As of today's ECB meeting, the U.S., Europe, and China are in the process of tapering/tightening Monetary policy...
Even as global trade and GDP are at seven year lows, and global debt is at all time highs...
"Over a protracted period of good times, capitalist economies tend to move from a financial structure dominated by hedge finance units to a structure in which there is large weight to units engaged in speculative and Ponzi finance.” - Hyman Minsky
Global yields (red) with GDP growth (black):
And...
Global Economic Policy Uncertainty Is At A Record High
Amazingly, economic policy by Twitter isn't helping to improve uncertainly much. So far this week Trump hammered China, Boeing, all of Biotech, and now he's on to whatever Unions still exist, after a generation of psychopaths in power...
Nevertheless, the Trump rally is punishing any "doubters":
Because there are no doubters...
Active Manager risk asset allocation is the highest in 3 years:
U.S. Treasury by Goldman Sachs
Think they're a little excited?
Europe is ready
The last several ECB meetings are indicated...
Internet stocks
Casinos
Small banks
Foreign policy by Lockheed Martin got pounded today
Joining J&J to the downside...
And the Equal Weight / Cap Weight S&P ratio is in crash position...
"Don't have any doubts about getting out"
