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The Risen (euro)Dollar

Back in April, while she was quietly jockeying to make sure her name was placed at the top of the list to succeed Mario Draghi at the ECB, Christine Lagarde detoured into the topic of central bank independence. At a joint press conference held with the Governor of the Reserve Bank of South Africa, Lesetja […]

The Key

After weeks of rallying on low volume on virtually no 2 way price discovery and relentless volatility compression the inevitable has happened: $VIX has busted out of its latest compression phase for […]

Optimism THIS

After two solid years of bluster, nonsense, misdirection, lies, and – – just to bring Joe Biden into the picture – – malarkey – – not one single paragraph, sentence, word, or punctuation mark of any kind of China…

The ISM Isn’t An Isolated Case

They absolutely loved the China PMI numbers, after having taken no note of Japan’s IP, dismissed Markit’s slightly higher revisions, and then totally hated the ISM’s Manufacturing PMI. That last one was supposed to join the others in moving substantially upward, contributing to widespread hopes all recession fears have been extinguished even this late into […]

Weekend’s PMI Joy Was Spoiled Before It Ever Got Started

The weekend began with pure joy over PMI’s before it ended in deep disappointment early Monday…over a PMI. It started in China. That country’s National Bureau of Statistics (NBS) released its November 2019 numbers for manufacturing and non-manufacturing sentiment. According to the government’s calculations, the gauge for manufacturing ticked back above 50 last month for […]