Comments from a Standard Chartered analyst (via Bloomberg interview)

  • Federal Reserve is a bigger risk to global markets than trade
  • Fed is approaching finishing its rate-hike cycle
  • equity rally in recent days is "80 percent Fed"
  • On the USD, strength not to continue into 2019
  • Adds that hikes from the ECB and BOJ are "a bigger risk than the market thinks"
  • Source of surprise in 2019 could be ECB beginning normalization cycle (positive for the euro)