There was a broad advance in the run of speculative-leaning equities, commodities and currencies this past week. The pace was uneven, but the progress was registered nonetheless. Yet, only now does the real technical commitment meet its test with Dollar eying 97.75, Dow looking towards 27,000 and crude crossing 55.50.
Two of the most systemic fundamental threats facing the financial system have eased this past week in the avoidance of a second US government shutdown and the enthusiastic language being applied to the negotiations between the US and China on trade. Is this the foundation for a new phase of ‘risk on’?
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