"The ECB is at risk of a massive loss of confidence when Italian banks start failing, Italy’s budget deficit starts expanding again and hard-line euroskeptics win the election in March. As capital is drained out of Europe into U.S. equities, the dollar, gold and cryptocurrencies, things should begin to spiral upwards rapidly."
The recent frantic moves in Treasurys and the dollar continued on Monday, and while the dollar collapse seems to have slowed for now, this is as a result of an acceleration in the Treasury selloff, with 10Y yields blowing out.
Davos elite hear warnings of complacency akin to 2007 as economic risks grow. Blockchain has potential to revolutionise the world of money – if not co-opted by elites. Davos theme explores massive inequality across the globe while eating $60 hamburgers.