September 2019 

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September 2019.png

Issue #33, 16th September 2019

Themes:

 

12/ It looks like the expected "recession" is over before it even started: monetary, fiscal stimuli to push economic recovery into Q2 2020, at least

25/ The bond market “massacre” explained by liquidity developments in late August: what to expect next in the bond market and equities

35China may still stagnate up to the year-end, but growth due to appear by early 2020; the TSF remains as reliable indicator of Chinese activity

44Gold faces massive repricing as global, US and EU growth starts to take hold

Splicing the markets - Relative strength in developed markets