I thought emerging markets were going to lead us out of recession? If so, why are the BRICs looking a little peaked? Russia says it sees growth falling 8.5% this year, China says its done stockpiling commodities as demand stays weak and Brazil is in the process of extending stimulus measures announced earlier in the year. If everything is so rosy, why more stimulus.
The reflation trade has been overdone for month and the makings of another bubble appear to be in the making. When it bursts, the dollar will be the beneficiarly.