Rock ‘n Roll:
>
Not that the futes have had any correlation to the days final prices . . .
GDP coming at 8:30 — Look for a negative number — I’m at -1.75-2.25%, but that’s reality based. I expect a negative 0.5-1.0% BLS number . . .
In any great organization it is far, far safer to be wrong with the majority than to be right alone. —John Kenneth Galbraith
Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
read more »
