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From the Market Ear:
Fat and flat
This market lacks a new trend. Trade it with a mean reversion mind. SPX is now back to the 200 day moving average, having managed getting some people long at very wrong levels today…
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Fed always underestimates
Central banks are doing something we have never seen them do, warn of recessions. According to TS Lombard, the bad news is they actually do a decent job at spotting cyclical peaks, but the more worrying news is that they always underestimate the severity of recessions.
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US 10 year – the trend remains intact
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.