Global Macro Perspectives
David Bloom, global head of currency strategy at HSBC Holdings Plc, talks about the outlook for the yen following last month’s Group of Seven intervention to halt the currency’s appreciation. Bloom also discusses the impact of a European Central Bank rate increase on the euro. He speaks with Mark Barton on Bloomberg Television’s “On The Move.”
Inflation is transitory (whatever that means), no sign of removing “extended period” formulation, asset purchasing program to be completed.
I have lost flair in making predictions. I even started to think that correct forecasting is impossible. Maybe it is better to look at forecasting only as to the extent “what if” exercise. That’s why this is the first strategy post this year.
I have to come to conclusion that the only relevant judgement on is made by market and this is the key in being a successful in this line of business. What is fair, what is right or what is logical are completely irrelevant questions in speculating. Fundamentals are most of the time only a peripheral factors affecting the prices; in fact fundamentals are major factor only in times of great excesses.
Now, lets get back to writing down my current mind setup.