The new political paradigm has thrown up another populist government in Italy, threatening the European project. Meanwhile in the US, could "Operation Twist Again" come into play as investors stress about ever-flatter yield curves?
It's strangely apt that the Five Star Movement is part of the populist Italian coalition; the stars can help cover the expletives that Macron and Merkel are likely uttering as the realise the impacts for Europe. On the other side of the pond, markets are focussed on flatter yield curves and whether they are forecasting a future recession. If they're worrying you as much as they are us, then my recent interview with Marcus Karlsson and Caroline Hepker on Bloomberg Radio is an opportunity to hear our latest thoughts.
I’m passionate about macro investing. As long as the markets are open, I don’t think about much else. Some people call it passion, others call it addiction.