as proxy for sentiment the dollar index ran from 97 to 104 after the election and since mid may (5 months into the new presidency) reversed to 92 with no visible political or economic support
equity markets remain disconnected
the easy math is that global equity markets capitalization is $ 70 trillion and not all of that is tradeable (the free float)
global bond markets by some estimates over $225 trillion
but fx markets trade $5 trillion a day
tax reform in analysts estimates ($ 8 a share sp 500) provide the expected growth for 2018 earnings the likelihood of which is the long pole in the tent
equity markets remain disconnected
the easy math is that global equity markets capitalization is $ 70 trillion and not all of that is tradeable (the free float)
global bond markets by some estimates over $225 trillion
but fx markets trade $5 trillion a day
tax reform in analysts estimates ($ 8 a share sp 500) provide the expected growth for 2018 earnings the likelihood of which is the long pole in the tent
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