MAcro Digest: 30YR US Fixed Income has been biggest winner from a hawkish FED!!!!!

30 YR US Fixed Income… since the April Fed meeting – where Fed promised to do more…..Hawkish tilt…..

 

Fading the FED is the biggest money winner this year – again – and is becoming a credibility issue for Yellen's Fed.

 

The rule of thumb for central banks: 'Don't listen to what they say – but observe what the do…(which almost always is nothing, too late or too little)

 

 

 

 

 

 

 

 

 

Some additional charts for consumption:

 

 

Bank sector is under attack again..

 

Euro downside is increasing due Brexit…

 

 

Europe growth leading indicator is point to SIGNIFICANT slow-down – Ie: Brexit vote yes or no is already having negative impact….

 

 

Steen

 

 

 

 

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