For over 12 years there was one who managed to bully them and the most of the government Policy makers too- And that person was PIMCO founder and Bond King, the one and only of its kind, Bill Gross.
After losing his crown- intentionally or otherwise- the market tries to fight the Federal Reserve and has failed miserably.
And it is really a shame all it takes is a Hedge Fund with less than a billion dollars to rattle the Market!
We are living in a post Financial crisis(SSSS) with so much of controls and transparencies - and still it takes just a small fund to rattle?? Third Avenue Management - might have the reputation for being the game for a very long period - making money one way or the other....but liquidating $789 Million dollars fund- not even a rounding error for the market in which it is played.
Its either the market is just too fragile given how much it has come up or the people trading this market suffers without a King! Its needs a directional leader who either points or paves the way.
And now we have people like Gundlach who can either weep or whine but not be a King like Gross!