USD rally extension would be a big problem.
Today's slide deck: https://bit.ly/3owExjp -
Today we look at the importance of yields for next steps in the equity market, covering the US, UK and German sovereign yields, but also highlight the pain trade of the US dollar extending higher from here, looking at the interesting divergence in our global risk indicator relative to the elevated equity market, the output gap in the US being fully closed, Fed policy mistake, stocks and earnings in the spotlight today and more. Today's pod features Peter Garnry on equities, Althea Spinozzi on fixed income and John J. Hardy hosting and on FX.
Intro and outro music by AShamaluevMusic
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