Macro Dragon Special S1E3 - Current Outlook & Macro Views...
This is the first of a series of Macro Dragon Specials that will come through over the year - in this first series we will attempt to capture KVPs current thoughts on global macro and cross-assets over 2020, current outlook and assumptions, current strategic positioning views, risks, hedges and contingency plans... as well as what seems to be consensus vs what the market does not seem to be focusing on. Note these are very different from the daily Macro Dragon cross-asset views
COT: Dollar bought, JPY sold ahead of virus focus
Commitments of Traders report covering speculative positions and changes in FX, bonds and stocks in the week to January 21
FX Update: Coronavirus dominates attention across markets
The corona virus outbreak is dominating market attention, and rightfully so, although the forex market remains sluggish in pricing in the kind of risk off we are seeing across asset markets, a move that has so far proven rather orderly, given the unknowns and potential nonlinearities of the situation. We urge caution here and highlight the risk of volatility expansion.