美银：The Flow Show-Bull Risks Allocation, Asia & Approval

Accessible version The Flow Show Bull Risks: Allocation, Asia & Approval Scores on the Doors: bitcoin 11.3%, oil 8.0%, gold 6.8%, commods 5.7%, global stocks 3.9%, US stocks 1.2%, US$ 0.7%, HY bonds 0.3%, IG 0.3%, govt bonds -0.1% YTD. Zeitgeist: "When the market goes up, they should lower rates" Trump on the Fed. Zeitgeist: "Only three certainties are death, taxes, and new highs in Japanese banks." Tale of the Tape: Japan yen weakest vs. China renminbi since 1992 (Chart 6); biggest risk to max bull Q1 cons ...