The Butterfly Effect
Chief Investment Officer
Summary: Our Q4 Macro Outlook - Everything is up in the air: recession, central bank panic and not least US vs. China trade talks.
A macro look at the world. We see potential for risk-on September but doubt it will last through Q4.
Recession still a real risk
US vs. China is a deal even possible now?
The Killer Dollar - a strong dollar more restraining than monetary policy
Paul Breitner hair and 1970s full circle macro: