Gluskin Sheff's Rosenberg: Too Much Negativity on Bonds

The video discusses the bond market's consolidation, driven by Brexit and Trump-related growth euphoria. It predicts lower yields due to declining inflation expectations. The dollar is seen as overvalued, with a potential medium-term weakening. Market sentiment indicators show high confidence but no immediate spending or hiring increases. The FX market is influenced by trade surpluses, particularly affecting the euro, yuan, and yen. The Trump fiscal plan's impact on yields is examined, with a focus on healthy normalization and potential growth constraints.

What concerns does the speaker express regarding the relationship between yields and economic growth?

According to the text, what are the implications of a trade surplus on currency valuation?