Editor's Note: This is an excerpt and chart from today's morning strategy note written by Hedgeye senior macro analyst Darius Dale. Click here to learn how you can subscribe.
...As it relates to #Quad4 deflation risk, I believe Yogi Berra said it best: “It’s like déjà vu all over again.”
Indeed.
Keep your head on a swivel and trade accordingly. Risk managing the push-pull between #Quad3 (i.e. policy-based reflation and yield-chasing) and #Quad4 (i.e. deflation and defense) will not be easy.