Unfortunately, this delusion doesn't go in reverse...
"Risk appetite evaporated overnight after the year's strong start, with equities retreating, oil markets roiled by a supply surge and the pound sliding on renewed concerns about a "hard" Brexit."
Bueller?
Oil prices on Monday posted their biggest one-day loss in six weeks amid fears that record Iraqi crude exports in December and rising U.S. output would undermine OPEC's efforts to curb a global supply glut...in addition to already thinking that it should be lower because of dollar strength."
In currencies, sterling slumped 1 percent on Monday, extending Friday's 1.1 percent slide...May's comments stoked fears of a "hard Brexit", in which border controls are prioritized over market access.
The drop in risk appetite pushed the dollar lower against the safe-haven yen.
Where to begin...
First off, a visual depiction of how overbought this market is...
Weekly TRIN (selling pressure):
British pound with USDJPY:
Speaking of dollar strength and oil...
EM currencies (red) with Oil:
Natural gas with oil:
Macy's
Global commodities with global GDP growth
"Reflation" - what a fucking joke
The Idiocracy will believe ANYTHING except reality...
Did someone say Risk Off?
Bonds versus stocks:
