Daniel LaCalle: “It Is Not About Trade War. It Is Global Debt Saturation”
via Daniel Lacalle: The G20 deal should not divert our attention from the reality of: Disinflationary pressures Rising spreads Global slowdown Countries wanted to “copy the Fed” and the US deficit spend. The trap: Markets are a relative game. Now the US 10-year bond is the safest asset. And it is draining liquidity off any other risky … Read more