Parsing China’s ‘Monster Prints’
Late Thursday evening, we talked at length about the bifurcated macro narrative wherein market participants careen from “reflation” days to “growth scare” days and back again.
Currently, we're witnessing a nascent resurgence of the "reflation" theme, which made a comeback starting early last week following upbeat PMI data out of China, a better-than-expected ISM print stateside and decent March payrolls on Friday. All of that was enough to (temporarily?) overshadow still-pressing concer