Saxobank CIO Warns: “Fed Rate Hike In June Is A Margin Call On Assets”
by Tyler Durden
ZeroHedge.com
03/17/2015
While Bridgewater’s Ray Dalio “hopes that The Fed will be very cautious about tightening,” Saxobank CIO Steen Jakobsen explains in this brief clip that The Fed “is wrong, always wrong,” and will likely raise rates in June no matter what. The Fed is boxed in, Jakobsen notes, and despite the weak macro data, changing direction now is unlikely – leaving the market surprised as it recognizes that “this is a margin call on assets,” seemingly confirming Dalio’s conclusion that, “inadequate attention is being paid to the risks of a downturn in which central bankers’ abilities to ease are significantly impaired.”
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