Themes:

 

1/ Bond Yields and Yield Curves in 2020: rising yields in H1, with yield curve steepening for most of the year and lower repo rates

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2/ US equities: a “perfect storm” of positive factors imply higher valuations until mid-year at least; looking for a shortterm bottom by early January: buy the dip

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3/ US Dollar: seasonality of liquidity flows and surging Core CPI should push DXY higher again after the current sell of

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4/ Crude Oil: The new bull market phase has started; Brent oil at $90.00/bbl in Q2/Q3 2020 is now very much on track as presented

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Splicing the markets - Things To Know About Pozsar's Potential 'Repocalypse' At YearEnd, Which 'May Precede' QE4