Author’s note: Twas in the year of 2015, the ninth day of the month of July. ’m perched at a trading desk on an upper floor of a grim tower in the canyon of lower Broadway in Manhattan, my face and torso irradiated by the four monster monitors flashing real-time financial data via Bloomberg. The 10-year Treasury note yielded 2%; I’m sure corporations were printing notes and bonds by the billions what with rates at those levels.
All at once, a Red Head erupted from the Bloomberg: a headline of eighty or so characters, highlighted in flashing red, reserved for news deemed of ontological significance by the fine editors of that leading news organization. When the 10-year Treasury last hit 5%, in late October/early November a few years ago. that was a red head. When the 10-year hits 5% again, that’ll be a red head.
This particular Red Head announced to the world that Nikki Haley, the Republican governor of South Carolina, had removed the Confederate battle flag from before the South Carol…
