Control
Markets are under control — figuratively and literally. In April, Deutsche Bank’s George Saravelos spoke
Markets are under control — figuratively and literally. In April, Deutsche Bank’s George Saravelos spoke
“The entire professional investor universe is, in my mind, basically a momentum trader themselves”.
“…we see a high risk of a more orderly setback for risk assets”.
“I’ll take it”.
“I think that at some point that’s going to sort of just disappear, I hope”.
Let’s not get ahead of ourselves.
Then again, fireworks have a way of showing up when you least expect them.
Friday’s data is mostly indecipherable, but there are some takeaways.
“You know what they say”…
The TGA question, dollar liquidity and a Machiavellian “conspiracy theory”.
“…some companies will die or their shares will devalue along the way”.
A misunderstood bear and underrated economic thinker.
The “day-to-day focus really swings wildly”.
A tale of “growth expectations jumping, cash levels collapsing, and risk appetites surging”…
“It’s better than their salary”.
Remember: This is a headline-driven market.
“So what was yesterday all about?”
Another day in reality television.
“Let them eat stocks”.
“Reality” is what you make it.
“There will naturally be some doubt lingering about these figures”.
Where’s your damn free lunch?Â
“We hold the opposite view”.
“The forces which will bring about inflation are aligning”.
The long version.
“We are now experiencing a whole new level of uncertainty”.
“…the staff judged that a more pessimistic projection was no less plausible than the baseline forecast.”
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