You would think logically that the nation and its central bank that have had the strongest currency and firmest policy (I know… but work with me here) over the last few years might have the most bullets in its gun. The monthly chart below shows that USD bottomed vs. other major currencies in 2008 and in some cases a few years later. The Good Ship … Continue reading Who’s Got the Most Ammo in a Currency War?
The CNBC headline tells the story. Here is the bump in the yield spread, which never did make a lower low and thus, held its steepening potential despite the recent hard pullback. Not being a great trader (or a machine/algo) I now have concern about the contrary implications at play here and need to at least think about profit taking as we move forward. Here … Continue reading Powell Doves, Yield Curve Spikes and SPX Hits Target
We noted yesterday that it is Fed Hype Week. A couple tough days for the market and the headlines are reinforcing the negativity. A single (and positive) payrolls report has instigated some market noise with the theme being a potential hawkish turn by the Fed after all that effort was put in to portray a dovish Fed. Ah, but of course, it was all just … Continue reading Powell Tips His Hand