SG FX on the 30th anniversary of Black Monday ... more to come for the market soufflé

Here is a quickie from Société Générale on the missing ingredient for another Black Monday

• It's the 30th anniversary of Black Monday, when rising rates, geopolitics and frothy asset prices combined to deliver a very sharp equity market correction.
• Two of those ingredients are in place today but monetary policy settings and the level of bond yields are at levels that suggest the market soufflé can rise a fair bit more before the inevitable happens.
• ... "it's quiet, too quiet" is the only quote that comes to mind