Many critical indicators look very overbought – for instance 4W flows are the highest since 2018.
But 1YR flows are just turning positive AND rising – after *two years* of relentless selling.
What's more important for the bigger picture?
— Macro Charts (@MacroCharts) November 30, 2020
J.P. Morgan: 2021 central bank balance sheet growth half that of 2020, but still plenty enough to push asset prices higher. pic.twitter.com/wU4N0sgxkj
— jeroen blokland (@jsblokland) November 30, 2020
Dollar-melting continues: Euro tops $1.20 for the first time since Sep. pic.twitter.com/6GisKzYWdJ
— Holger Zschaepitz (@Schuldensuehner) November 30, 2020
— Businessweek (@BW) November 30, 2020
airline travel pic.twitter.com/0jMsTSmV3U
— zerohedge (@zerohedge) November 30, 2020