I’m cautious on risk assets at the moment but I can see the case for optimism:
1) The Fed put is there. It worked last week.
2) The recessionary winds are blowing but you can’t underestimate the US consumer
3) Certainly a better entry point than it’s been
4) AI has run a long way but it’s real and there are hints that OpenAI has something cooking
But maybe the risk on/off trade isn’t the one right now as there is an excellent opportunity to get back in the USD/JPY trade now that the BOJ has waved the white flag.
But I’m open to all ideas, post ’em below.
