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TME has the latest on the war for markets.
The Great Rotation Gets Violent
Gold and BTC are seeing outright panic buying as positioning catches up with the move, while the other side of the market is starting to look much less comfortable. Tech is being aggressively de-grossed, semis have broken key support and credit stress is creeping back in, yet semis vol remains remarkably relaxed. The rotation is getting violent, and the divergences are getting harder to ignore.
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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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