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The Butterfly Effect

Macro
Picture of Steen Jakobsen
Steen Jakobsen

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.

Slides - The Butterfly Effect

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:

09_SJN_1


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