Saxo Q3 Outlook: The global fiscal panic

Saxo Bank, the online trading and investment specialist, has published today its Q3 2019 Quarterly Outlook for global markets, including trading ideas covering equities, FX, currencies, commodities, and bonds, as well as a range of central macro themes impacting client portfolios.

“Central banks’ response to the looming economic slowdown and trade war has been panic cutting interest rates and signaling new extremes of easing, while politicians are warming to the idea of Modern Monetary Theory. Our model indicates that the low point in the economic cycles lies in the third quarter for China, and in the first to second quarter for the US, UK and Europe. Furthermore, we could be headed for a massive repeat of the 1970s global supply shock,” says Steen Jakobsen, Chief Economist and CIO, Saxo Bank.

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