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Saxo Warns Reflation Trade Ends In Q2 With “Healthy Correction”
zerohedge.com / by Tyler Durden / Apr 11, 2017 11:25 AM
The reflation trade that started before Donald Trump’s victory in the US presidential elections accelerated in Q1 as global economic data improved and surprised against expectations. Global equities are up 6.5% in dollar terms with markets such as Hong Kong, emerging markets, and Brazil the clear outperformers.
In its Q2 2017 Outlook report, Saxo Bank warns that the reflation trade will end in Q2 with a healthy correction in global equities.
The biggest perception-versus-reality gap remains this risk of recession. While the market at large sees less than a 10% chance of recession, we at Saxo –together with our friends at South Africa’s Nedbank – see more than a 60% chance.
The post Saxo Warns Reflation Trade Ends In Q2 With “Healthy Correction” appeared first on Silver For The People.
