Here is the 2yr yield on a bounce today but still below the down-crossed SMAs 50 & 200.
And here is USD taking a bit of a bounce (not surprisingly from its SMA 200) against this week’s prevailing hype, which is of course that Powell folded like a cheap tent in order to weaken the currency and appease the president and/or Wall Street.
I’ll tell you what; if Thing 1 above gets bullish again Powell will get hawkish again. But right now it’s well contained. Uncle Buck is however, set up with at least the potential to catch the dovish Fed celebrants off sides, even if for just a bounce to the SMA 50.
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