“A bout of optimism amidst intensifying risks.”
Says it all really – from the unflappable #greggibbs and the rather excellent report he did at #ampgfxcapital In broad USD terms we are in an odd time and I’m trying to make sense of the moves. All i see at the moment are failures. Politics into the mid terms and twin deficits are gaining market focus. The flip to the flop is US data is as robust as ever. It’s certainly not screaming to the FED to alter the 4 a year .25bps hike plan. However, their rhetoric is worryingly mixed (as Greg concurs) Sometimes I’m baffled at price action, temperature and sentiment. Sometimes i don’t know what the story is. That means my view is mixed, languid, indecisive. It means i can’t hang my hat on anything. Lets hope the market doesn’t fall victim of unintended consequences. My advice is wait for a new narrative. Like Godot it may take some time.
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