RBC: “Clients Increasingly Uncomfortable” With The Fed “Tightening Into A Slowdown”
by Tyler Durden
ZeroHedge.com
Jun 15, 2017
First thing this morning, one of the recent “bullish converts”, Bloomberg Marc Breslow was the first to accuse Yellen of making a big mistake, and warning that this may be it for stocks for the time being. He was followed by “Macro Tourist” Kevin Muir, who likewise had been “bullish for a while” then turned negative today on concerns that the global liquidity tsunami is ending. Now, RBC’s cross asset wizard, Charlie McElligott (recently caught in a friendly feud with his magical JPM peer, Marco Kolanovic), has released a note explaining that today’s selloff may be just the beginning as traders realize that what Yellen has done, especially with China’s credit impulse collapsing, is “tightening into slowing”, aka the single biggest policy error the Fed could do.
His full note below.
‘TIGHTENING INTO SLOWING’ VIEW GAINS FURTHER STEAM
The Rest…HERE
