Since Powell backtracked and the PBOC stepped up liquidity injections, global money supply has roundtripped to March 18 levels.
Forget earnings or macro. This is why markets have rallied. pic.twitter.com/ANxj0EcdD1
— Daniel Lacalle (@dlacalle_IA) February 5, 2019
https://twitter.com/BrentCarlileFX/status/1092754783402905605
global euphoria continues in EU & US pic.twitter.com/2AtqW8boiN
— Alastair (@StockBoardAsset) February 5, 2019
Dr Copper close to overbought, and still within the global disinflation-slowdown range pic.twitter.com/QCjeJ2NflX
— Daniel Lacalle (@dlacalle_IA) February 5, 2019
global shipping rates continue collapse pic.twitter.com/vciDap3TN0
— Alastair (@StockBoardAsset) February 5, 2019
I was just taken to task in a TV interview on my recession view. I didn’t realize at the time I was defending it that the Fed’s senior loan officer survey for Q1 was being released – both the supply and demand for household and business credit is either slowing or contracting
— David Rosenberg (@EconguyRosie) February 4, 2019
The S&P 500 is now up at least +16% in the last 30 trading days (from an intraday low).
That HAS to be bullish for $SPX, right?
Not necessarily.
A lot of times it certainly is.
Some times, it's just a big ol' bull trap. pic.twitter.com/3ttqSnnPmB
— OddStats (@OddStats) February 4, 2019