Emerging Money Daily Audio Call June 29 - The focus on higher rates in Europe and the broader moves higher in global rates is the key to markets' price action this week, no matter what anyone else will try to tell you about the impact of an overbought Tech sector, or concerns about Oil, Retail.
The two most important global central banks outside of the Federal Reserve(The ECB, The BOE) have told you this week there is no deflation which means there is inflation.
The theme of higher interest-rates is very supportive of new asset allocation's across different asset classes that include commodity currencies in the developed world( like Australia and Canada), as well as interest rates sensitive stocks.
As we head into month-end, quarter end, and first half closure, and go into a long holiday week, markets will remain defensive and we do not believe investors need to over-trade this tape.
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