Biggest beneficiary of waning Brexit fear is Europe. IFO today in Germany better than expected and overall sentiment still on defensive despite ECB ready to roll out more Euros.
As sentiment in Europe is hurt by the rising rates curve and a stronger currency we ask is the run in Germany over?
Every credit guy I speak to seems to be getting long or is very long volatility. Equity guys seem to be long complacency. Bond markets always smarter. EM markets tend to be as well in a reactionary way. EM equities as measured by the EEM ETF are -7.8% in 26 days straight down from a […]
Emerging Money Daily Audio Call May 8 – Global Markets see bad as GOOD. NFP joins weaker China and German data to give equities a chance to relax on ed and other CBs stepping away form their printing presses.
Last week I said on Fast Money that the way to play the Swiss National Banks letting the Euro peg go was to BUY EUROPE, but hedge the currency.
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