LOLz, Momentum Factor Destruction, Cyclical Melt-Up Catalysts And Another Fata Morgana

Nomura's Charlie McElligott got a hearty laugh out of the idea that the "only" sticking points remaining between the US and China on a trade deal are implementation and enforcement. "More China / US 'trade deal optimism' per the FT story [with the] only 'hold-up' being implementation / monitoring, LOL", Charlie wrote Wednesday morning, expressing incredulity at the notion that anyone would describe "implementation and monitoring" in terms that suggest those two things are somehow trivial matter

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