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Wilson says “the recent move in the US dollar creates an untenable situation for risk assets that historically has ended in a financial or economic crisis, or both”. “While hard to predict such ‘events’, the conditions are in place for one, which would help accelerate the end to this bear market.“ Wilson says US companies derive about 30 per cent of sales outside the US and that number exceeds 50 per cent for the tech sector. A year-on-year change in the trade-weighted US dollar is negatively correlated to earnings revisions over time. Most vulnerable sectors The sectors most vulnerable to...
