Originally Published by Hedgeye here.
Political risk in Europe was largely ignored in international markets because of the mirage of the so-called “Macron effect”. The ECB’s massive quantitative easing program and a perception that everything was different this time in Europe added to the illusion of growth and stability. Continue reading After Italy… Spain Risk Soars
Watch the full video here.
In this interview we comment on the risks of emerging markets, rising imbalances, and a consensus bet on a weak US dollar and low rates that has led to large fiscal and, in some cases, trade deficits. Continue reading Turkish Lira Decline a ‘Symptom’ of EM Fiscal Imbalances (Bloomberg TV)
The Fed, ECB and BOJ have collectively added more than $20 trillion worth of asset purchases globally since the onset of the Great Recession.
This endeavor has been fundamentally misguided from the start, says economist, author and Tressis CIO Daniel Lacalle.
Central bankers cannot print growth, Lacalle says.
Continue reading Escape from the Central Bank Trap (Seeking Alpha, Hedgeye)
Read the entire article here.