Below is a note from Hedgeye CEO Keith McCullough to customers this morning:
|
#GlobalDivergences continue to manifest as the “globally synchronized recovery” consensus peaked in JAN… Meanwhile, Macro Tourists having a tougher time blaming everything on “trade wars” when major EM components like Brazil implode on their own economic cycles (Brazilian stocks -15% in the last 3 months and 10yr yield up again this am to +12.51%); Indonesia’s stock market smoked for a -3.7% loss overnight; Chinese stocks still in #crash mode, -1.7% overnight and -24% since JAN |
Click here to get our "Cartoon of the Day" emailed to you for free.
