‘Growth Scare 3.0’ And The ‘Largest Cross-Asset Vol. Risk’
So, fear the “rogue” inflation upside surprise, one supposes.
So, fear the “rogue” inflation upside surprise, one supposes.
“[The numbers] are literally bad”.
The problem isn’t so much the numbers as it is the timing.
“If the Federal Reserve ever did a ‘match'”.
“We can make a deal with China tomorrow. No way!”
“We’ll let you know in about three or four weeksâ€.
When Trump says “all-in”, he means “all-in.”
“He’s respected all over Europe.”
And now, things get interesting.
“…will only get worse.”
“We are right where we want to be.”
Barring something (else) out of left field, the week ahead will be dominated by trade jitters.
“We must approach our analysis with humility”.
“Risk of global recession”.
“It’s very simple!”
“Therefore, please see the enclosed subpoena.”Â
Around the world and back again.
A fine line…
… call for desperate measures.
Spoiler alert: “Not yet”.
At least he covered a lot of ground.
There’s an “art” to this.
“What if markets do not understand how policymakers will respond?”
“If you’re short vol, you make money…but eventually die. But if you’re long vol, you die before you make money.â€
Slowly but surely, a more complete picture is emerging of what went wrong between the US and China.
…straight to voicemail.
“It currently looks as if as we are seeing this supply ‘tip’ into realization”.
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