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US Dollar Falls To Lowest Level Since January 2015 On Depressing Jackson Hole Speakers (10Y-2Y Slope Declines To 82.82 BPS)

This is a syndicated repost courtesy of Snake Hole Lounge. To view original, click here. Reposted with permission.

The monetary retreat at Jackson Hole, Wyoming today was a dovefest. ECB’s Draghi and Bank of Japan’s Kuroda both said that accomodative monetary policy will continue.


Now The Balance Begins To Shift

The balance between QE and Treasury supply will begin to shift in July. The underlying bid it has provided for stocks and Treasuries will begin to fade.

This report tells why, and what to look for in the data and the markets.  GO TO THE POST


And Yellen said very little of substance with no hint of tightening.

The reaction? The US Dollar fell to its lowest level since January 2015.

usdolla2015

And the US Treasury 10 year – 2 year curve slope fell to 82.82 basis points.

102jh

Yes, optimism at Jackson Hole was in short supply, but hot air was everywhere.

Here are Janet Yellen and Mario Draghi singing “My Kuroda” with the Bank of Japan President. 

draghi-yellen-kuroda

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