...and back to earth with a flop in manufacturing and industrial numbers in Europe. Macro numbers everywhere are getting short-circuit in almost every front.
Those sharp overshoot followed by undershoot and by overshoot, etc etc added to the distorted moves in Bonds across the world are, by experience only, V. strong symptoms that something fundamentally is cooking in the macro structures. This wide zigzags in macro numbers are not healthy and usually happens before major shifts in the economy. In the particular case of Europe, uncertainty and jittery numbers after brexit are starting to make some cracks in economic confidence ....
Keeping a very close eye there. On the rest, session pretty much over with all markets holding steady till NY and as long as we keep riding good and bad news in Equities with free money is all 'fine' ...
sisse
Those sharp overshoot followed by undershoot and by overshoot, etc etc added to the distorted moves in Bonds across the world are, by experience only, V. strong symptoms that something fundamentally is cooking in the macro structures. This wide zigzags in macro numbers are not healthy and usually happens before major shifts in the economy. In the particular case of Europe, uncertainty and jittery numbers after brexit are starting to make some cracks in economic confidence ....
Keeping a very close eye there. On the rest, session pretty much over with all markets holding steady till NY and as long as we keep riding good and bad news in Equities with free money is all 'fine' ...
sisse
Pending conversations? PM for a chat...I am mainly in OTM now