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A Goldilocks Cameo, A 1.7 Trillion Yuan Liquidity Shortage & The Latest From Nomura’s McElligott
Anybody catch a glimpse of a convincing narrative on Wednesday?
No? That's ok, because there really wasn't one.
But "stocks touch four-month highs for no discernible reason" isn't a headline anybody is going to run, so we're stuck with a confusing mishmash where the incoming data underscores a "Goldilocks" take on the US economy (better-than-expected capital goods print, cooler-than-expected PPI) and another farcical day in London begets "relief" that Brexit has been pushed out (sterling ralli
pssst, I’ll give you a discernible reason. the USD has fallen a lot since last week.