The “nationalization” of the bond market is the ultimate rampart against sovereign debt crisis
In today's note, I will argue that a sovereign debt crisis in developed countries has a near-zero probability of happening due to central bank interventionism which virtually avoids a remake of the 2012 crisis.
Market Quick Take - May 28, 2020
A wild day for the US equity market yesterday as a steep and rather large sell-off yesterday was quickly corralled and entirely reversed into the close of trading, taking the S&P 500 back above its 200-day moving average. A bit of consolidation has settled in overnight as we ponder the EU recovery package as EURUSD trades at 1.1000 and US-China tensions as the yuan is perched at cycle lows.
Macro Dragon: Big Hat, Lots of Cattle... USDCNH Up, AUDUSD to potential tank big time...
Macro Dragon = Cross-Asset Daily Views that could cover anything from tactical positioning, to long-term thematic investments, key events & inflection points in the markets, all with the objective of consistent wealth creation overtime.