From: Chris Jarvis <chris.jarvis@archr.com&gt;
Sent: 27 January 2021 16:10
To: Futures <futures@archr.com&gt;
Subject: Building on some evolving themes

 

 

Starting to see some of these themes of the global growth sub-cycle starting to peak accompanied by tightening liquidity conditions starting to evolve. For these themes to develop further and a stronger USD to start to reinforce the other direction you would expect to see financial conditions starting to tighten in emerging markets (proxied with EMB) and faith in the industrials lead recovery start to fade as copper rolls over. Both EMB and copper are holding their uptrend for the time being but a break lower would mean a significant shift for markets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

And signals of building pressures towards further economic headwinds in Europe and higher cross-asset volatility would be implied were EU banks to start materially underperform again

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Chris Jarvis Futures and Options T +44 (0)20  7422 2989 E Chris.Jarvis@archr.com 49 Carnaby Street, London, W1F 9PY United Kingdom ARCHR.COM

 

 

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