‘What A Difference A Quarter Makes’: Why One Bank Is Taking A ‘Glass Half Full’ Approach

When last we checked in on Ajay Rajadhyaksha, Head of Macro Research at Barclays, he was recounting the story of an "exasperated" client who was frustrated that the market wasn't providing anything in the way of dips to buy. Here's Rajadhyaksha recapping the call in the foreword to the bank's Q2 outlook piece: What, he asked, could possibly go wrong given strong global growth, non-existent inflation pressures, and a spanking new US tax cut? Sure, markets seemed too complacent, but there did