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What The Oil Bulls Got Wrong | Michael Kao & Alexander Stahel on the Chinese Yuan & Oil "Doom Loop"
Forward Guidance
The Chinese Yuan Doom Loop
I don't see that the market needs to go 10 dollars from here, there is too much weakness by now globally synchronized. If we have suddenly what I call a correlation one event in market, and max positioning on the bearish side, I think that's when we're going to see these situations where oil can easily go to 55, why not? The big mistakeOil bulls got right now was imagine what the shape of the US consumer would be like if we had one extra year, year and a half of lockdown without any of the fiscal stimulus. And then multiply that by four in terms of just pure population size. It seems like the Chinese recession was last year. So it's emerging
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