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Expect a 30% Correction in Stocks, Says Godfather Of Global Liquidity | Michael Howell
Forward Guidance
The Fed's Repair of the System
Last year demand for US treasuries was very high, partly due to interest rate differentials. Do you think that will continue to be the case? Well, what's happened in the last 10 years is there's been a perfect storm for the US dollar in terms of capital flows. And we're starting from a situation with a real value of the dollar trading well above its normal trend. So cyclically, the dollar looks expensive. Doesn't mean it won't go up. In terms of the dollar, I still think in the short term, the dollar goes up. Although I, you know, I reserve that adjustment over the medium term.
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