Is The Dollar Headed Higher?
Veteran macro investor Michael Nicoletos returns to Real Vision to share the opportunities and risk he sees across a wide array of assets including currencies, equities, interest rates, commodities, and crypto. He shares with Real Vision’s Jack Farley his view that central bank balance sheet expansion will likely continue to result in skyrocketing asset inflation and that the United States dollar is poised to benefit from rising interest rates. He argues that emerging markets face serious challenges in this potentially bullish-dollar regime and analyzes the recent chaos in Turkey. He compares the burgeoning fiscal and monetary stimulus in the United States with the shortcomings of the European Union’s efforts to implement fiscal stimulus. Linking macro to crypto, Nicoletos explains his views on Bitcoin, Ethereum, Cardano, and several other altcoins. Filmed on March 24, 2021. Key learnings: Nicoletos’ view on central bank liquidity leads him to be very bullish on dollar-denominated assets as well as Bitcoin. Since the U.S. stimulus efforts will accelerate economic recovery, Nicoletos sees the U.S. dollar poised to outperform the Euro and the currencies of emerging markets.