What's Happening In Global Macro?
The Macro Trading Floor
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The Euro's Long-Term Trend to Rise
relative terms of trade have improved massively for the euro zone since October last year it was the 0.95 steno only funds moment basically you remember that yeah so there was that moment and since then of course things have improved markedly. The tailwind has exhausted at least for the time being interest rate differentials also something that worked in favor of the euro because on the relative basis the ECB became much more vocal in the fourth quarter in the first quarter this year talking about terminal rates having to be 4 guys wake up. I'm longed Poland as we speak which is a high mid-aproxi of euro so who am I fooling I mean I'm riding the trend and it's working
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