Our cross asset models have been picking up distress signals for months now, it just takes time. Even the Fed was eager to pat themselves on the back that they had achieve immaculate disinflation, sure! They were lucky that China was slowing down at the time they were raising rates, and then of course thanks to biden fiscal spend, it just masked a much weaker economy, than most saw as they were too focused on the S&P 500 or $NVDA. Now the weakness has already set in, the US economy is like a big cruise liner, if you steer too long on one side, even if it does not show any movement, there is a lag, and when it moves, it can go off course very quickly!
MBCC TH 12th Jul'24 - "Market is all about positioning, first long/shorts blow up, and then...it all goes! What do Bonds/FX/Bitcoin tell us about where Gold/Silver/Oil/Copper and all go?"
