So, you want to fade the reflation narrative?
Or maybe you don't, I have no idea.
What I do know is that headed into 2020, many Wall Street year-ahead outlook pieces have coalesced around the view that some 70 rate cuts across the globe are set to manifest themselves in better economic outcomes (e.g., an inflection in manufacturing PMIs) while the interim trade deal between the world's two largest economies is poised to remove one of the most pressing psychological overhangs that's plagued investor sentiment for most of 2019.
That general narrative (or shades of