Tightening Tantrums, Cycle Highs And A Look Ahead To 2019
“From there, it’s about October’s large Quantitative Tightening impulse”.
“From there, it’s about October’s large Quantitative Tightening impulse”.
“Yesterday did not feel ‘quant-y’ to me.”
So what about the September Momentum rally and the idea that hedge funds will keep “grabbing” for exposure?
Depending on who you listen to…
A momentum surge and then, a quantitative tightening “triple-whammyâ€.
The fix is in.
Remember, credit creation in China is a key piece of the macro puzzle…
“Another day for U.S. equities funds, another sizable underperformance.”
Douglas Adams time.
Are you short the dollar (implicitly or explicitly)?
Remember: “Nearly every consensual macro trade has an implicit short-dollar view built-into it.”
“Come play with us Danny”…
“In these days of rampant commodity speculation in China, however, can we really trust copper to give us an accurate read on the U.S. economic cycle?”…
Do you want a “pure” look at how disconnected equities have become from the economic realities of the reflation narrative?
We’ve said it before and we’ll say it again: one-way bets and crowded trades are
So we can debate the extent to which Tuesday’s “blip” on an otherwise rosy-looking equity
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