Rising sentiment over the global outlook is only matched by falling confidence in the dollar.
The greenback wallowing near three-year lows as fears of a U.S. government shutdown take hold - amid roadblocks to legislation in Congress.
But it's not the only worry.
"There has been some growing concern over the fact that we're getting a bigger and bigger fiscal and trade deficit in the states and both of those things currently are sitting on top of the dollar."
Stock markets appear to be sitting on top of the world ... their rally given an extra thrust by China.
This week's GDP figures showed growth there accelerated in 2017 for the first time in seven years.
That proved good luck for Shanghai - stocks added half a per cent to end at a two year peak.
MSCI's Asian index - outside of Japan - closed at a record top.
"We now seem to believe for the first time in some considerable time in the midst of a synchronized to global economic recovery ... Most developed economies can be getting to the stage where they're firing on all cylinders."
But the drive behind the recent oil rally could be misfiring.
Prices slipped by more than per cent on a bounce-back in US production.
Pulling Brent crude below 69 dollars a barrel.
"Oil has come an awful long way in a short space of time ... I think if we do get a significant fall below sixty nine dollars a barrel on the Brent price then we could well see further losses to around about sixty five dollars a barrel."
Also rising, though: bond yields.
Both in the US - on the prospect of further Fed hikes.
And in Europe - ahead of next week's ECB policy meeting.
"There is always that thought at the back of the market's mind that later this year they are going to continue winding down the QE process and that's bound to have an effect on the bond markets."
That same thought also lifting the euro by 0.4 per cent.
Pushing it back towards the three-year peak it hit earlier in the week.