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.
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?
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