Source: dailyhodl.com
Senior Bloomberg commodities analyst Mike McGlone is warning of a financial reset amid an environment of tightening monetary policy.
McGlone says in a Wolf of All Streets podcast that a major financial recalibration looms as central banks across the globe raise rates.
“I think we’re going to have the biggest reset of a lifetime partly because of what’s happening with the narrative [of central banks raising rates].”
According to the senior Bloomberg commodities analyst, the Federal Reserve’s global influence has not waned and its actions are likely to be replicated by other central banks just as before.
“Obviously we’re going to get 0.25% [rate hike] today and then we have every other central bank with the exception of China and Japan all following the Fed.
I do enjoy this narrative when people say the US is less significant than it was economically, but ask the central banks, it’s more significant than ever. And they’re just scrambling to keep up with the Fed…
The bottom line is, don’t fight the Fed. And everybody does. And then beware of the general consensus which is ‘Oh once the Fed stops tightening, everything’s okay’.”
Turning to equities, McGlone says that the stock market rally could reverse just like Bitcoin (BTC) did after hitting its 2023 high.
“I see this is a silly stage in terms of the equity market. Yes, I’m very bearish on the equity market. I sense the similar bullishness in the equity market that I sensed in Bitcoin when it was at $31,000 a month or two ago.”
I
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Read More at dailyhodl.com