World goes long US

The USD firmed a little overnight:

Commodity currencies mostly did too:

Gold is still just hanging on:

Brent fell:

Base metals are stalled:

Miners fell:

EM stocks rose:

EM and US HY jumped:

US yields broke out but the curve flattened:

European spreads tightened:

And stocks headed for heaven:

The monthly BoAML fundie positioning survey is out and we are all MB now with the USD super popular:

Reflation all the rage:

Still plenty of cash though:

Everyone chasing banks over yield:

And risks all about Europe:

Looks like the reflation trade has a bit more juice in it before some major pullback is due.