Diagnosing the quality of this bounce

Today's slide deck: bit.ly/2SEAylX
Today we look at the strong bounce from yesterday's lows and to what degree it is a sign of hopes for an opening up or at worst a symptom of unhealthy speculation in narrow, overvalued sectors of the market. A similar driver possible in crude oil. As well, a look at the broad US dollar and where we are headed there as well as today's ruling from Germany's constitutional court on the ECB purchase program. Today with Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy on FX.