One Bank’s Bold Prediction For € Credit

Needless to say, I'm a big believer in the idea that the market isn't properly pricing political risk. I think the best expression of this is probably in FX vol/equity vol ratios which are sitting at or near highs across markets. As you're well aware - if you frequent these pages - my foundational theory on markets in 2017 is that FX vol is going to dictate the action and that FX markets are going to become increasingly beholden to politics. That said, it's certainly not just equities that ar