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Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.

Is Wall Street betting that the latest COVID #acceleration is going to result in more US Dollar Devaluation (moarrr Fed Cowbell on its birthday today in 1914 btw) by both the Fed & Fiscal Folks? Big time.

While that’s become both a perpetual bet and Fed “put”, the real big macro thing going on out there in the world is that macro markets are discounting a pending Global #Quad2 in Q1 of 2021.

When was the last time we had Dollar Down + a Globally Synchronized #Quad2? A long time ago. That’s probably why the Nikkei ramped another +2.1% overnight after ramping another +4.4% last week. What else is moving, faster, as vol falls?

A) Russian Stocks are up another +2.0% this morning after a +4.2% week
B) Oil is inflating another +2.1% this morning after a +8.1% inflation back to Bullish @Hedgeye TREND last week
C) Nigerian Stocks were up +13.0% last week to +23.6% in the last month!

As you can see in that chart: The Quads Are Global! No one sees it like DD does as a sea of green #Quad2s pending.

CHART OF THE DAY: The Quads Are Global! - 24