Risk exposure has moved to fresh record highs this past week, but the fear of a collapse has grown more palpable. The dollar - a safe haven currency - has led the way on a divergent trend that undermines a uniform risk theme. If the markets snap out of their relentless drive towards yield; there is plenty of fundametnal fuel in record low yields, tepid growth and richly priced assets to feed the turn. And, the dollar's drive may help us key into the driver that will inevitably turn market-wide sentiment on its head. Fear of a downshift in QE by the Fed has stirred loud concerns for a market that has build its strength on the explicit support. In the weekend video we discuss the big picture risks for the markets, the trade opportunities based on the different pace of sentiment and why the dollar may not be the best trade in a true risk aversion world.

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