We all had a few, here are some big ones
The FT takes a look at a few big global trade ideas that were popular at the start of 2019 and turned out to be far off the mark. One that isn’t on the list is cash. I can’t count how many analysts were saying to be in cash for early 2019 and had anyone followed that advice, they would have missed out on rallies in bonds and stocks.
At the start of this year, one of the most popular calls in currency markets was for the Norwegian currency to climb. The country’s central bank was set for multiple rate rises, the economy was performing well and the krone was cheap. Bank of America Merrill Lynch analysts predicted that it would appreciate more than 7 per cent by December 2019.
That one didn’t turn out so well with NOK falling to a record low against the euro.