Beware the Angst Bid

[edit]  Not to minimize a tragic (and sick) event that sees a rising death toll, but this is a financial site and so comments are thus related…

Yen and Swiss Franc rise as explosions spur safety flows

It’s actually a currency article and by the URL (/2016/03/21/dollar-perks-up-with-fed-hike-seen-back-in-play.html) we see that it had originally been touting the jawbones of Lockhart and Williams yesterday, talking up a rate hike as soon as April or June.  It’s really unbelievable how these people just cannot keep their stupid pie holes shut for even a week after FOMC.  The confusion they create is not helpful.

Of course, these two clowns were not voting members of the FOMC.  So I guess their hats needed to be thrown into the ring just for the entertainment of one and all.  Interestingly, supposed hawks Bullard and Mester voted for the policy (in) action.  Anyway, moving on…

“The yen and the Swiss franc rose while the euro fell on Tuesday after explosions rocked Brussels and spurred inflows into traditional safe-haven currencies and assets.”

The point of this post is not to try to call the individual currencies and assets affected by a safe haven bid, but to remind you that these inflammatory events never last and indeed often provide opportunities to go the other way.  In this instance, insofar as the stock market may be down on the news, it would be highly inadvisable to get bearish because of it, and likewise for gold, it would be highly inadvisable to get bullish because of it.

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