Bank of America have a Q3 'pain trade', stronger yen & lower NASDAQ a large part
Bank of America strategists in a weekly commentary, they highlight a new pain trade as
- lower bond yields
- lower Nasdaq
- stronger yen
Saying:
- everyone is minting the same long T-bills, long Nasdaq barbell
- and thus the biggest Q3 pain trade is lower yields, lower Nasdaq, plus higher yen
BoA note that:
- "no one has that on"
More in the FX space, BoA say the biggest carry trade this year has been long MXN, short JPY. But its been ourpaced by the 30 odd % gain for the NASDAQ ... up until today anyway:
On tech stocks, they say "sell the last hike" by the Fed move will hit tech the hardest.
This article was written by Eamonn Sheridan at www.forexlive.com.from Forexlive RSS Breaking News Feed https://ift.tt/VyftHPc
Analytic Dave
AnalyticalDave is a personal financial analysis portfolio that captures my Derivatives trading, stock, and investing journey. My portfolio does NOT act as a financial advisor to any community. It is only purposed for journaling my story as a self-taught trader and investor.
