Macro Digest: Pre-election thought

We are in the final phase of positioning ahead of next Tuesday…..this is market note.

 

Trending:

 

·         Trades which believes Trump will do better……

·         Inflation expectations ticking up….

·         Strong US$ common theme by now

·         Short deficit currencies continues to work…

 

 

We are long Gold and USDMXN as we have firmly argued Trump would do better on voting day, due to the social contract issues….

 

 

 

USDMXN is still lackluster similar to MSM vis-à-vis 'surprise' in the US --- J 19.10 big level…..

 

 

 

 

 

 

 

 

 

Inflation!!!! Expectations picking up..

 

Risk on models is doing poorly with this pre-election

 

And volatility is slowly heading higher..

 

 

 

 

Finally, not denial here! US dollar remains winner across board – favorite longs: USDJPY, USDMXN, and USDEUR….

 

 

 

 

 

 

This email may contain confidential and/or privileged information.
If you are not the intended recipient (or have received this email
by mistake), please notify the sender immediately and destroy this
email. Any unauthorised copying, disclosure or distribution of the
material in this email is strictly prohibited.

Email transmission security and error-free status cannot be guaranteed
as information could be intercepted, corrupted, destroyed, delayed,
incomplete, or contain viruses. The sender therefore does not accept
liability for any errors or omissions in the contents of this message
which may arise as a result of email transmission.