Wednesday, September 18, 2013


Right again.  Will I ever get it wrong.  No change to QE III (or is it QE VI?).  Much to the absolute delight of all the markets the Fed did not pick up on tapering which EVERYBODY was expecting except me.  Seems like there's a bit of a disconnect with the White House on how things are going labor-wise and economy-wise to the point where there is now no longer a hint as to when the program might be tapered (remember the 7% unemployment rate?).  There's nothing else to talk about today; you got it all.  But here is a thought:  As of 3 pm EDT, Sterling stood at 1.61 and the Euro at 1.35.  What do you think that is going to do to Euroland exports and where do you think emerging markets currencies stand as I write?  As Jimmy Baker said so many years ago, "The dollar is your problem."  Sure as hell is especially when you're short.

I love days like this when they make it so easy.  See you tomorrow.

No comments:

Post a Comment