A few days old, so completely outdated by now... Shit moves fast in Trumpland.
but cool nonetheless:
The stock market car crash is naturally dominating attention. After all, this is only the fourth two-day 10 per cent decline since at least 1952. But the more alarming developments are happening in currency markets.
The dollar is " supposed to be" this safe haven, and during this turmoil it's done nothing but falling. Probably yields for something to do with it
Goldman Sachs’ FX team are out with a new call this evening, and it’s a big one. They now see the US dollar’s weakness “persisting and deepening further”.
the most interesting part of the note is that even Goldman Sachs is becoming worried that the sun may finally be setting on America’s famous “exorbitant privilege” (and is willing to say so publicly).
WE CALLED IT STACKERS
...a broken clock is right twice a day etc.