Last week it was Angela Merkel and Ben Bernanke warning of the dangers of persistently low rates and easy monetary policy. Now the ECB is plotting it’s ‘exit’ strategy and the IMF sees a global economy turnaround later this year. 2-year Treasury yields have roared higher and the crisis (what crisis?) is being declared over. Sterling and Aussie, two currencies which were very harshly treated over the last 6 months, have made very strong recoveries and it looks like the market is voting with its pocket.
Good luck today.
