We are now T+5 from the launch of the good ship QEternity - do you know where your asset classes are?
Treasuries, EURUSD, and Oil have all retraced the entire post-FOMC move - US equities not so much..
...and perhaps as an indication of times to come for the Fed - what took EURUSD 3 days half-life and 5 days full-life to be digested took a mere 9 hours for the BoJ's latest QE8 effort this week in USD JPY...
http://www.zerohedge.com/news/spot-odd-one-out-5
DeadFred
DeadFred's picture
Futures are done rolling. Good chance this last week's meltdown was caused by month-to-month rollovers. There's a boatload of liquidity parked in the oil futures market making us pay more at the pumps than we need to but every so often they have to move their contracts or else they'll have to, God forbid, take delivery in a market with not that much demand. This time the month-to-month doorway got a little narrow. Maybe they held a bit longer than they should hoping to catch a bit more profit from the expected ramp from QEternity. Oops, sometimes it sucks to be an evil oil speculator, especially if you're not close enough to the Source to get inside info on exit strategies.
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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