Quote from swisstrader:
Daal, do you follow the Macro Man blog (http://macro-man.blogspot.com)? Aside from satirical market analysis, they do put out some well founded macro research which I've found quite interesting.
Quote from Ghost of Cutten:
One clear change that few people are talking about is the Yen. The market action in the last few weeks is exactly the kind of move that starts off a long-term market trend - the currency got crushed almost 10 big figures with hardly a single rebound. Now, shorting after such a big one-way move is probably a bit too risky, but on any meaningful bounce, I would say this looks like an interesting play.
The Yen is going opposite to the 'risk-on' trade. So, the time to short the Yen is probably the same time as to pile into stocks. VIX above 20 might be a nice entry signal, with the Yen at something like 80.
Quote from Martinghoul:
That is exactly the sort of rebalancing that's supposed to happen in Europe (if it wants to continue as EMU).
Well, I do believe it's a bit more nuanced than that, given what's going on in the background. Moreover, I am not sure I am prepared to swallow the convenient story of property prices in Germany rising due to the effects of the "cheap ECB money". IMHO, it actually has a lot to do with flight-to-quality and the need for NDEM-denominated assets (as I think we have discussed earlier in this thread).Quote from Specterx:
Rebalancing is one way to put it. Wrecking half the economies in the Eurozone with cheap-money-fueled bubbles, then firehosing a tsunami of yet more cheap money into the system which goes to fuel bubbles in the other half isn't really my idea of long-term structural reform.