ET CONTRIBUTORSET CONTRIBUTORSET CONTRIBUTORSET CONTRIBUTORSET CONTRIBUTORSET CONTRIBUTORSET CONTRIBUTORSET CONTRIBUTORSET CONTRIBUTORSET CONTRIBUTORSRitesh Jain, a Dalal Street veteran, trend watcher and Global Macro Investor, captures global macro investment opportunities and economic, business and financial trends with charts and commentaries in this space.If rates are allowed to rise, then we are staring at massive bankruptcies across the world.This is so ironical, but I think Jeffries is right. USD/IDR surprisingly is resilient.The Resilience website highlights that the U.S. oil rig count is now down 75% y/y at 185 vs 788. It has been falling since November 2018, which is likely to mean U.S. production has a lot further to fall. In my view falling oil production is bearish news for US dollar.With GOLD breaking 1800usd. With Fed shrinking its balance sheet and US treasury not spending money.. We should be ready for a short and sharp correction.

Source: Economic Times July 12, 2020 05:34 UTC