This morning on The Call @ Hedgeye, Macro analyst Josh Steiner and Hedgeye CEO Keith McCullough discussed the underlying causes of yesterday’s market losses.
“The environment that we’re in led us to this point,” Steiner explained. “We can say it was the Bank of Japan rate hike, but there were a lot of other dynamics that were needed before that catalytic event took hold.”
“That was just one of the many, many components that caused the avalanche,” said McCullough. “If you just completely get caught offsides, which most people do, it’s always ‘let’s just find that one thing. Let’s find the narrative.’ It’s always shifting narrative.”
“Those precipitating events and that same dynamic that suddenly pushed us over that critical threshold… they’re still there,” concluded Steiner.
Don’t listen to Wall Street’s nonsense narratives. Subscribe to The Call @ Hedgeye to get actionable market insights every day before the market opens.
