Cartoon of the Day: Craters - 09.05.2018 EM craters cartoon

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

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Cartoon of the Day: Craters - cartoon of the day