The short maturity fixed income market is offering the most attractive yield opportunity since before the financial panic of 2008, thanks to the Federal Reserve’s aggressive reversal of Fed Funds. We argue that the Fed has been forced into such an aggressive move by their years of ineptitude but, nevertheless, the move presents an attractive opportunity for investors to actually earn an attractive return on their cash. Prior to this year, the idea of 60/40 investing (a portfolio strategy of holding 60% of assets in equities and 40% in fixed income) had been supplanted by “forget bonds and buy the dip in stocks when their price corrects.” That strategy worked well prior to this year, but has proved catastrophic for portfolios this year, with the selloff in the darlings of the retail market, namely FANG stocks. All are down double-digits in 2023, with META, the parent of Facebook, down 69% from its peak. The best performing of the group is Apple with a year-to-date loss of only 27%. Topping the FANG losses, Bitcoin, the favored trading vehicle of the more “sophisticated” retail traders has lost 75% of its value since last December. With the cryptocurrencies printing new lows as we write, we wonder what’s stopping Bitcoin from plumbing the depths below 10,000. It’s certainly not valuation, because it really doesn’t have any intrinsic value.