🇺🇸 This is still a scary chart. Permanent job losses have increased faster than during the recessions in 2001 & 2008. Is a wave of bankruptcies at our doorstep?

🌍🛢️ Which EM countries are the winners & losers of the 2020 commodity pricing madness? 👍: Chile & Singapore 👎: Kazakhstan & Russia

🇪🇺 Small Cap Growth equities have moved from being the biggest LOSER to the biggest WINNER in 2020. Will Growth Small Caps experience a relative setback/correction in 2021, when/if fiscal packages are phased out (which primarily help SMEs)? Or will CBs prevent a correction?

🇬🇧 The UK economy has underperformed significantly since the #Brexit referendum in 2016 and also during the corona crisis. And it will continue to do so after the transitional period ends on 1 January 2021. $GBP

🇺🇸 The two latest "Operation Twist" from the Fed were succesful in pushing the 10y yield significantly down. Perhaps the consensus trade of a (slightly) steeper yield curve in 2021 is primarily a story for H2 2021?

🇺🇸 Last #FOMC meeting of a crazy 2020 A year where the balance sheet has exploded (LH) and new facilities have been introduced (RH). Although controversial & limited usage I'm sure Powell will let Yellen know in 2021 that the facilities have been successful as a funding backstop

Is this yuuuge jaw between growth and value stocks ever going to close? 🐊 #equities

🇺🇸 Nasdaq 100 Is Tech in a bubble? 👉 isabelnet.com/?s=Nasdaq h/t Morten Lund #markets #investing #assetallocation #tech #bubble #nasdaq #nasdaq100 $ndx $qqq #stocks #stockmarket #equities

🌍🇺🇸 If you need a more positive news out of the US, then they are now leading the vaccination race in the West. #vaccination #COVID19

What is bad for #DonaldTrump is (again) bad for the $USD

🇺🇸 Short $USD positions are the most aggressive since 2007 Last couple of times with big short positions, the USD eventually depreciated (green), but that is far from always the case (red). Will markets be wrongfooted this time or will the short USD consensus story unfold?

📉⚠️Rapid increase in margin debt has often been the canary in the coal mine for large #SPX500 corrections. Is this time different or do we only need a trigger?

🇺🇸 A big #TaperTantrum 2.0 in the making? 📉 Naah, Powell won't allow it. All Fed research in past 8 years has exactly stressed the importance of not tightening financial conditions too soon after a recession. And btw - look at real rates instead of nominal rates.

I have been arguing for value outperforming growth stocks throughout 2021, but perhaps we need an even bigger move in real yields for that trend to continue.

Inflation pressure heating up 🔥

Proud to be part of this team which once again has been voted the best in the world by institutional investors 👏🏻 institutionalinvestor.com/article/b1vp18…