“Pick Your Poison”: These Are The Market’s Three Negative Narratives

Want create site? Find Free WordPress Themes and plugins.

zerohedge.com / by Tyler Durden / May 11, 2017 6:15 PM

Having turned over the past few months from reflationist, to increasingly skeptical of the whole reflation impulse scenario – mostly on the back of China’s infamous credit impulse crashing – RBC’s Charlie McElligott takes a look at the three “negative narratives” that are gradually emerging for the markets. But before listing them, here is his latest summary of where the increasingly more confused market finds itself:

From “The Battle Of Who Could Care Less” by Charlie McElligott

  • My ‘macro range-trade’ thesis continues to be representative of the lowest-conviction market I’ve seen in a long-time, with ‘risk-sizing’ at VERY muted levels.
  • Sentiment “paper-cuts” are mounting with risky-assets sitting near recent nose-bleed highs, making them ripe for today’s modest draw-down into poor liquidity.
  • Negative client narratives are building largely around this idea that 1) the Fed is tightening (staying ‘on message’ with hawkishness); 2) China is deleveraging (PBoC has ‘room to run’ in light of recent + data overshoot); 3) the ECB is pivoting ‘less dovish’–all while 4) the global economy is mean-reverting ‘slower’ following the outstanding expansion since last Summer.

READ MORE

Read more ... source: The Bitcoin Channel

News from Darknet

Previous articleUK Land Registry Plans to Test Blockchain in Digital Push

Let's block ads! (Why?)

Powered by Bitcoin Central

Did you find apk for android? You can find new Free Android Games and apps.



0
Connecting
Please wait...
Send a message

Sorry, we aren't online at the moment. Leave a message.

Your name
* Email
* Describe your issue
Login now

Need more help? Save time by starting your support request online.

Your name
* Email
* Describe your issue
We're online!
Feedback

Help us help you better! Feel free to leave us any additional feedback.

How do you rate our support?