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The Danes are still some of the happiest people on the planet well above the US and the UK populations. The Danish word Hygge is used by psychology to explain the underlying reason why – translated into English to mean “cozy†- its more about the intentional intimacy of the culture with shared, safe and balanced experiences. This stands out as the hope for the future deals in the US and UK rest on a balanced, sustainable trading environment. The US/China trade talks again dominated focus, with Brexit votes and UK politics a close second. The focus of the day was on Xi/Trump meeting plans being delayed to June. The China Shanghai Composite jumps 2.5% on the day with the hope that this time will be used to finish the deal. Or perhaps the delay allows more time for easy money liquidity to act as central bank efforts to stoke global growth remain the focus for the week with the FOMC and BOE meetings. The China stimulus plans continue to unfold with more juice for inv
estors and some actual liquidity from the PBOC. The stretch for yield and the return of TINA are notable – there is no alternative to equities thinking dominates after the ECB TLTRO III and lives with the hope that the Fed Powell Put is alive and well. The economic releases today were more factual than surprising with Japan trade in line and industrial production revised slightly higher while Europe’s trade surplus narrowed sharply as imports recovered as usual due to seasonal factors. New Zealand saw its Service PMI drop to 53.8 from 56.3 and the NZIER cuts its 2019 GDP forecasts and rate views. Other headlines were less friendly as France vows to crackdown on the “yellow-vest†protests as they surprised with more violence for the 18th consecutive Saturday. All of these factors make the trading of risk markets less fun today and that shows up in the modest volumes and lack of momentum in Europe. The USD is approaching some key levels for support and its probably the
best way to find happiness in the delays to bigger news and decisions for the week ahead. Hygge with your favorite trade.
The Morning Track hygge
- The Morning Track – Hygge by Bob Savage/articles/the-morning-track-hygge/
The Danes are still some of the happiest people on the planet well above the US and the UK populations. The Danish word Hygge is used by psychology to explain the underlying reason why – translated into English to mean “cozy†- its more about the intentional intimacy of the culture with shared, safe and balanced experiences. This stands out as the hope for the future deals in the US and UK rest on a balanced, sustainable trading environment. The US/China trade talks again dominated focus, with Brexit votes and UK politics a close second. The focus of the day was on Xi/Trump meeting plans being delayed to June. The China Shanghai Composite jumps 2.5% on the day with the hope that this time will be used to finish the deal. Or perhaps the delay allows more time for easy money liquidity to act as central bank efforts to stoke global growth remain the focus for the week with the FOMC and BOE meetings. The China stimulus plans continue to unfold with more juice for inv
estors and some actual liquidity from the PBOC. The stretch for yield and the return of TINA are notable – there is no alternative to equities thinking dominates after the ECB TLTRO III and lives with the hope that the Fed Powell Put is alive and well. The economic releases today were more factual than surprising with Japan trade in line and industrial production revised slightly higher while Europe’s trade surplus narrowed sharply as imports recovered as usual due to seasonal factors. New Zealand saw its Service PMI drop to 53.8 from 56.3 and the NZIER cuts its 2019 GDP forecasts and rate views. Other headlines were less friendly as France vows to crackdown on the “yellow-vest†protests as they surprised with more violence for the 18th consecutive Saturday. All of these factors make the trading of risk markets less fun today and that shows up in the modest volumes and lack of momentum in Europe. The USD is approaching some key levels for support and its probably the
best way to find happiness in the delays to bigger news and decisions for the week ahead. Hygge with your favorite trade.
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Robert Savage
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