Macro presentation: The end of a cycle

 

Dear All,

 

Please find enclosed my latest macro presentation for H2-2015:

 

 

It charts out my main (highest probability path) for markets. Needless to say I believe we are at the end of a cycle – the suspension of business cycles – and about to engage a new full cycle business cycle including boom-and-bust.

 

Included is also my new overview model for why this cannot work – the pretend-and-extend plus my main take on investments:

 

 

 

Long gold, short US$ and using FED's hike as catalyst for buying commodities and EM.

 

Safe travels,

 

 

Med venlig hilsen  |  Best regards
Steen Jakobsen  |  Chief Investment Officer

 

Saxo Bank A/S  |  Philip Heymans Allé 15  |  DK-2900 Hellerup
Phone: +45 39 77 40 00  |  Direct: +45 39 77 62 23  |  Mobile: +45 51 54 50 00

 

Research: http://www.tradingfloor.com/traders/steen-jakobsen

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