These fed mandarins just can't get the hang of it,can they? From extremely hawkish to dovish in a record three months! What changed to necessitate a policy shift? Clearly they are out of their depth here.

Apparently soaring debt/ebitda was one of the basis for hiking rates. Which begs the question, why create a problem and then act as a catalyst to exacerbate the consequences?


Policy errors will not be kind to the already wobbling global economy. I am looking forward to the dollar decoupling from the fed chosen course of action in the medium term.

NIRP is beckoning.

In the meantime, the Chings are having a field day strenthening the Yuan with each subsequent USD shave. Clever......Currently fixed at 6.46 vs USD

They are now looking to cut their reliance on exports and focus on their 1billion plus population hence the clamour for a strong CNY. They will also gain on their USD denominated loans.
Kuroda is still looking to devalue the Yen further, just like Draghi, to little success, so as to lift his export figure. Lets see how this plays out.

Cable craters below 1.42 on brexit concerns

Waiting for campaign proper between Yes and No camps. Reminds me of the Scotland's referendum back in 2013!!

To rephrase the highlighted words in the caption above, I meant that the market is soon going to start calling the Fed's bluff or better yet, start shorting the Fed's decisions aka act in reverse. This should not take long given the current state of affairs.

Dow @18,000 by November...that will be quite the feat if they manage it. They can manipulate the short-term gyrations all they want but once the bear comes to play they will be helpless just like the rest of us.

EUR$ rises above 1.14 just after sweet Chicago PMI of 53.6 vs expected 50.7.
Very well calculated move by the big hands.
Draghi must wonder whats not happening

USDJPY approaching the 11.03.2016 & 17.03.2016 lows which is where BOJ supposedly intervened.....it will def be interesting to see if they will unleash another round of sell orders to weaken the Yen. Might just be safe to watch from the sidelines......

Queuing at 109.510 as i believe Kuroda will definitely come in at these levels to push the Yen lower to 110.