Alfonso Peccatiello Macro-Review: My thought

Directly from Alfonso Peccatiello, a perfect review of the current narrative change.

I loved the focus on 10-year Chinese bond yields drop, because is perfectly in line with my latest equity research, on a semiconductors production company.

So the two main points of the article are:

1) Chinese credit impulse drop and the bonds yield following 'one and the relative impact of Chinese currency strength that is nowadays fundamental for various sectors, as seen that China is the major exporter and reserve holder of goods like industrial materials, semiconductors chips, etc..

2) Russell underperformance vs Nasdaq strictly correlated with the G5 credit impulse.

Keep the focus on, and be prepared, because when only prepared mind can see opportunities.

https://themacrocompass.substack.com/p/the-reflationary-trade-is-dead-in