Tick, Tick, Tick…

To watch C-SPAN’s coverage of today’s House Financial Services sub-committee on Monetary Policy and Trade featuring Esther George and Jeffrey Lacker, CLICK HERE.  Watch for the two bubbly central bankers to make their best case for unchecked power.Screen Shot 2016-09-07 at 7.12.03 AM

I read this morning that the volatility in the Dow over the past 40 sessions (high to low range of 2.27%) is the lowest since at least 1915, possibly ever.  While it fits nicely with our analog, and is therefore somewhat heartening, it also suggests a great deal of volatility lies ahead.

Consider the US dollar’s continuing climb in the same channel for over four months.  If the FOMC really isn’t going to raise rates in a few weeks, is there any reason for DX not to have sold off by now?2016-09-07 DX daily 0600

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