“Safety and comfort comes with complacency, and that’s never a good place to be working from.” – Elijah Wood
Once again, as we have been discussing, markets are being extremely complacent about Geo-economic and Geo- political risk. Our base case remains that we are going to trade heavy/risk-off into the end of the month.
Today should be an interesting day. Among other things, keep an eye out for: the US-China escalating trade war, more Trump headlines, possible multi-billion EU fine for Google and for the findings of the UK criminal investigation into Facebook. Clearly the focus is going to be on action in the Nasdaq.