This chart shows the malaise of Eurozone banks, which has also been exacerbated by #ECB's negative rates. US Banks Index has outperformed the EuroStoxx Banks Index by whoppung 154ppts since introduction of neg. depo rates in 2014 #EuroFinanceWeek welt.de/finanzen/artic… via WELT

connectionmatrix.com/china-has-been…

Recession triggers: Mark Zandi, the chief economist at Moody’s Analytics

Great hedge for equity portfolio risk...however sometimes there are correlations with other asset classes

He is shorting malls and real estate from 2018.He expects The Big Short 2.0 zerohedge.com/health/carl-ic…

Bitcoin carbon footprint: 22 megatonnes of CO2 /year Porn streaming carbon footprint: 140 megatonnes of CO2/year ... how often do you hear people complain about porn's huge carbon dioxide emissions?

Great more upside is coming

🇨🇳 #China | Big Chinese Banks Urged to Lend More to #Manufacturing Sector - Bloomberg (citing statement) *Link (Chinese): bit.ly/35hzRmq

deterioration of real estate prices in China and Hong Kong

Best Safe Heaven

History says… When the yield curve first inverts by >70%, buy gold and sell stocks for the next 2 years. The gold-to-S&P 500 ratio almost doubled in average during all 5 cases since 1970. Our in-depth analysis here: crescat.net/the-impending-…

Bubble burst in China is very likely.

So who can challenge KING DOLLAR?

If we were allocating to China but can’t control the volatility, then there’s a limit to how much we could allocate Paul Sandhu, BNP Paribas Asset Management

This is definitely worth retweeting 😅😅😅

In March the government said its reserves stood at HK$1,170 trillion ($150 billion) with some critics saying successive leaders have not done enough to alleviate endemic inequality.

They start the IPO after OPEC meating connectionmatrix.com/oil-supply-in-…

What we learned from the 2019 recession scare: 1/ Yield curve inversion does NOT a recession make. 2/ Bad manufacturing needn't spill over into services. 3/ Weak German exports aren't a great global demand signal. 4/ Ignore idiosyncratic noise (Argentina, Turkey, Brexit, ...).

- The probability of reaching $100/b oil in 2020 is zero. - The probability of reaching $100/b oil in 2021 is very low - I say this and I am bullish on oil! - The likelihood of energy crisis after 2021 is high. Timing? Difficult to determine

Druckenmiller: Fiscal stimulus around Earth, w 50+ rate cuts. Loves Pound, likes CAD, Mex, New Zealand, AUD: commodities, copper, no energy, likes value, plays for higher nominal growth world, Fed won't be easing next year, he's short rates in US, Short the long end in rates).