— Christophe Barraud🛢 (@C_Barraud) August 24, 2020
The Dollar and Stocks have moved like a mirror image since March.
Their correlation has collapsed to near the most negative in history.
In a liquidity-driven market, the biggest risk could be *any* drop in liquidity triggering a USD rally – more than ever, watch it like a hawk. pic.twitter.com/leUc0jpK4g
— Macro Charts (@MacroCharts) August 24, 2020
CFTC non-commercial net short positioning on the US 30Y is looking pretty stretched here (-1.6 SD). The last time positioning was this bearish on long duration USTs was Oct ‘18 (peak bus. cycle) & April ‘11. This can be a good contrarian indicator so something to keep an eye on. pic.twitter.com/3Hm9Ssvzpk
— Julien Bittel, CFA (@BittelJulien) August 24, 2020
This chart is the BIGGEST issue for USD bears over the next 2-3 month. Issuance has clearly outpaced QE again, which is usually a fairly USD liquidity negative signal.
— AndreasStenoLarsen (@AndreasSteno) August 24, 2020
ICYMI: "Horrendous" Market Breadth "Stinks To High Heaven" https://t.co/8faVxDGoZ9
— zerohedge (@zerohedge) August 24, 2020