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The Market Ear kicks us off.
India – emerging market for a reason
Macro trades keep on imploding left, right and center. Yesterday we pointed out that something was happening in cross-asset macro, and that we did not like the smell of it. That trend continues today. First out, the darling macro trade of late, Sensex, is puking, putting in a massive down candle. Note we touched the 200 day almost.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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