US Dollar: Capitulation?

When it comes to trade, there is no free lunch.  A lower US dollar helps US exporters.  But, for the US – a net importer by a huge margin – it raises the price of imports. So, it was really interesting to watch Treasury Secretary Mnuchin step in it explain that a lower USD would … continue reading →

The Rally That VIX Built

As discussed yesterday, stocks spent the night building a cushion based on VIX (currently off 5.4%) in preparation for tomorrow’s FOMC announcement.  It started just before the close, yesterday, and has built to a 6-pt gain in the futures.Actually, it’s been less of a rally, lately, and more of an effort to maintain ES at … continue reading →