recovery

"Left Behind..."

"You can try and tell people that they’re doing just great, using the media you control, and it’ll work for a stretch, if only because they want to believe it, badly, but when these same people can’t even feed their children while you make such claims, you will eventually lose their attention and support. The difference between beliefs and experiences."

Bill Blain: "Oil Could Change Everything"

"As a story, oil has further to run. The issue for markets is how dramatically will higher oil prices impact inflationary expectations in the current rosy Macro world-view? That could solve the lack of inflation at a stroke – but probably push stressed full employment economies like the UK into stagflation."

Euro Tumbles Ahead Of Yellen, Macron Speeches As Stocks Shake Off Korean Crisis

S&P futures are flat after Monday’s tech-driven drop and as tensions with North Korea are once again put on the backburner; Asian stocks are modestly lower while Europe has shaken off the Korean crisis and is in the green on the back of a sharp drop in the EURUSD which has tumbled below 1.18 as the USD rises ahead of much anticipated speeches by the Fed Chair and the French president.

FX Week Ahead: Market In Need Of Brain-Changer, Not Game-Changer

After the FOMC meeting last week, it was (yet) again apparent that the Fed are still keen to maintain a normalisation path designed to not only get rates back to neutral levels, but also build up the policy tool kit again as well as staving off excessive leverage which has boosted stock markets to record highs. 

Whatever The Fed Does... It's Bullish

"But let’s be very clear about one thing... The Fed does NOT honestly believe in the strength of the recovery, that inflationary pressures are present OR that employment is as strong as stated... It’s actually quite the opposite."

America's 'Fake' Stability & Boobs On Credit

"The longer this fake stability is maintained the greater the collapse. Success breeds disregard for the possibility of catastrophe...Sometimes they do ring a bell at the top. In this case they are shaking fake boobs at the top."