Citigroup FX maven Steven Englander has been visiting clients, and he relates 5 topics of interest that have come up.
- Fiscal issues. In the last week, there’s been a major upsurge in interest in the debt ceiling and a possible government shutdown.
- The Fed: People are still confused.
- Real estate: Englander notes that in one city he went to (which is not a city with a high level of foreign participation in the real estate market) things still appear to be booming.
- The euro: Why is it so strong?
- Emerging markets: What’s going on?
Of the five, the fiscal issues one is going to grow in importance until it’s all resolved. This is especially true if one buys the notion that financial market participants are not as aware of the risks as Washington insiders are, which is what Washington folk keep saying is the case.