Barclays: ‘Our Mini-Bubble Melt-Up Scenario’ Appears To Be Materializing

Back in July, Barclays rankled the bears and delighted those hoping it wasn’t too late to ride the S&P to ever higher highs by making a market “melt-up” their base case for US equities. The rationale was fairly simple. Donald Trump and Xi Jinping had just struck a new trade truce in Osaka and the Fed was still set to ease policy. “The open-ended nature of the truce, coupled with the looming 2020 Presidential election, probably means that both parties have incentives to continue ki