Market Quick Take - April 6, 2020
Risk appetite surged overnight with little supporting narrative save for hopes that the Covid19 outbreak peak in the US may be near and lower than originally feared and on the strong rebound in crude oil prices after an approximate 10 percent gap lower opening price caused by a weekend of bickering between Saudi Arabia and Russia.
Macro Dragon: The Tail-End ≠ V-Shaped Econ Bounce
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.
Week ahead, KVP would be watching Sweden for a massive u-turn as flagged by Peter Garnrey on Friday's excellent Saxo Market Call Podcast. Potential nationwide shutdowns in places like Japan & a thematic extensions of the deadlines imposed on currently lock-downs, physical distancing & shutdowns. Also watch the US & NY, as next few wks will get brutal on the Covid-19 front.
Market Quick Take - April 3, 2020
An odd day yesterday on a very quiet day for global equities while oil markets saw intense volatility after US President Trump touted an expectation that Russia and Saudi would reduce oil production. Today features important US economic data, though the market seems unimpressed with historic bad data.