By all indications, The Dow will open above 20,000 this morning. Narratives are everywhere but the main focus appears to be the Trumpflation trade is back… there's just one problem with that…
It appears the USD, inflation swaps, and bonds are not buying it…
Certainly the last 3 days have seen a notable divergence…
Still when bottomless pockets are able to sell VIX to a 10 handle – what can you do? (Bonus Chart)
via http://ift.tt/2jpoXWG Tyler Durden