Byron Wien from Blackstone Capital Partners December Commentary

A month ago, I published Byron Wien's opinion on Bitcoin.
His market commentary is published monthly and should be taken into consideration when dealing with cryptocurrencies.
The December market commentary is not yet available at the website, but I got it early. You can subscribe to be informed early here

I won't copy paste the full text, but I'll summarize the 4 biggest items:

1. The European Union is more solid than ever before. That certainly is an unintended consequence of Brexit.
2. Graham Allison correct Byron Wien , by saying that In terms of purchasing power parity, China is already the largest economy in the world.
3. In 2008 the combined balance sheets of the Federal Reserve, the Bank of England, the European Central Bank and the Bank of Japan were $3 trillion; they are now $14 trillion.
4. The spread between the 2-year and the 10-year U.S. Treasury yield is 70 basis points positive. This is a warning area. We probably have at least a year before an inversion, if it occurs, and sometimes the market has a sharp rally when it does, but it always signals a bear market and a coming recession.

As always, I let you make your own conclusions.

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