Bad News (The Good Kind)

Bad News (The Good Kind)

"Typical of an advanced carry trade." That's how Nordea Investment's Sebastien Galy described the "bad news is good news" dynamic which inspired headlines to kick off what, in the US anyway, was a holiday-shortened week. Something like this: Equities and futures gained as traders priced in an assumed delay in the unveil of the Fed's taper schedule following a disappointing read on the US labor market. The risk to that dynamic is always the same. As I put it Friday, "At some point, bad news is
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