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To help contextualize this morning's market moves around the world, below are insights and analysis from our research and Hedgeye CEO Keith McCullough's Twitter feed.
https://twitter.com/KeithMcCullough/status/1030416164365586432
China
https://twitter.com/KeithMcCullough/status/1030408253560123392
https://twitter.com/KeithMcCullough/status/1030401771871461377
https://twitter.com/KeithMcCullough/status/1030408899751378944
Europe
https://twitter.com/KeithMcCullough/status/1030417852547850240
https://twitter.com/KeithMcCullough/status/1030404669992927234
Italy
https://twitter.com/KeithMcCullough/status/1030411685553569792
https://twitter.com/KeithMcCullough/status/1030412485604474881
Turkey
https://twitter.com/KeithMcCullough/status/1030412180766642176
https://twitter.com/KeithMcCullough/status/1030402314882830337
Commodities
https://twitter.com/KeithMcCullough/status/1030413656150880257
https://twitter.com/KeithMcCullough/status/1030414787904241665
Before You Go
"The US Treasury 10-year Yield continues to break-down as US inflation expectations do, 2.85%," McCullough wrote this morning.
That's bad news for Wall Street...
Data on big bank and hedge fund positioning reveals an overwhelming majority of Wall Street is short Treasury bonds. In other words, consensus is long rates rising. Meanwhile, rates are falling. The 10-year Treasury yield has fallen -25 basis points from its May high of 3.127%.
https://twitter.com/KeithMcCullough/status/1030418097625284609
