The market lacks a new trend

From the Market Ear:

Fat and flat

This market lacks a new trend. Trade it with a mean reversion mind. SPX is now back to the 200 day moving average, having managed getting some people long at very wrong levels today…

Fed always underestimates

Central banks are doing something we have never seen them do, warn of recessions. According to TS Lombard, the bad news is they actually do a decent job at spotting cyclical peaks, but the more worrying news is that they always underestimate the severity of recessions.

US 10 year – the trend remains intact

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.