Yesterday’s Market Uproar

Yesterday the market shit its pants because a group of eggheads ruminated about inflation and interest rates. Nothing had changed except that the market found an excuse to set loose the algos and trigger some HFTs and dopey hedge funds as yields rammed upward.

Meanwhile, the little guys like you and me are just trying to determine whether this thing is going to take a secondary drop to the one a couple of weeks ago. These news events that mean nothing really don’t help on a daily basis and while grinding through some transactions in the Trade Log, this was noted…

“Ahhhh, Fed noise! Total b/s to be disregarded. They damn well better raise in March.”

The USD had rammed upward along with yields on the uproar that shouldn’t have been. Today? Back to normal as yet another ripple is smoothed out and the world turns. Today’s rally aside, we are still undetermined (well I am undetermined, anyway) as to the next big directional move.

I believe that the rising long-term yields (Amigo #2) theme is getting played out now as every momo with a chart is on that trade. See, Amigo #2 in the middle is still bracing for something while the other two goofballs ride on without a care in the world.

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