As regards an update to the simplified traffic light signals: It's a flashing green for technicals in markets for now due to big re-balancing flows in favor of stocks in -- this in response to first quarter losses that range from 19% (for Japan's Nikkei) and 21% (for the S&P in the US) to 27% for emerging markets. I suspect that this will return to an orange later in the week. Fundamentals: Constant red still. Policies: Flashing green, but tentatively so due to implementation challenges. #markets #stocks #emergingmarkets #economy #investmentmanagement #currency #forex #volatility #centralbanks #currency #forex #tradewar #economy #fx #tradewar #equities #selloff #bonds #yields #ecb #monetarypolicy #liquidity #federalreserve …see more