Carlos Asilis
Carlos Asilis
bulk consumer households moving seem
The things that make up the bulk of consumer expenditures for most U.S. households -- all of them seem to be moving up significantly.
bullish case cash fund hold investors levels means
Cash levels are very low. The bullish case is to say that money-market fund levels are very high, which means that investors have the wherewithal to rotate back into equities. My take on that is I wouldn't hold my breath.
bubble clear nobody pinpoint process
Nobody can pinpoint when this process will come to an end. But it is very clear that it can't go on forever. Do you let this bubble grow, or do you do something about it?
beneficial comments latin markets
The comments are more beneficial for Latin American markets than the market was expecting.
brazil clearest countries five markets mistake natural performing resource top
The story is clearest in the natural resource area. They import a lot from resource-rich countries like Brazil and Chile. It's no mistake that those are two of the top five performing markets in the world this year.
coming concerned cyclical economy forces indicate secular visibility
Obviously, the economy ails from important secular imbalances; there's a lot to be concerned about. But the cyclical forces indicate that, at least over the coming quarters, visibility is high.
overall terms
Yes, it's an unambiguous positive. But in terms of its overall importance, it's only marginal.
guess huge market money retail whether
Whether retail money is going to rotate back into the market in a huge way is the key. My guess is it's not going to happen.
banks china chinese exchange foreign gradual impression risk system trauma
There is a risk that if China liberalizes the foreign exchange system when the banks need to be recapitalized, there could be trauma in the system. My impression is that the Chinese are going to be as gradual as they can.