I purposely delayed posting it until now so more would see it than during a holiday-truncated week.

From Steen ...

Simple Man's View

One Trading View: Fixed income will outperform all assets. US 10-Year treasury yield will drop under 1.5% by 2015 Q3

One Economic View: Disinflation/deflation will be catalyst for asset sell-off

One Timing View: Q2/Q3-2015 low this cycle for all indicators

One Guaranteed View: Volatility will go up significantly

Core Trading Views

10Y Bond yields(US) will continue lower into Q2-2015.  I see acceleration to down-side and mainly in the US where 10 Y could hit 2.00% and bottom out at 1.5% by Q2 as GDP comes off relative to "lift off" consensus.

European factors:  Lower than anticipated growth in Germany (China rebalancing, lower US current account deficit and EZ overall) – Impact from Russia crisis only beginning to impact real economy and of course the deflation which ECB promised us would never happen.