The Humpty Hump

The day is surprisingly quiet…so far…but will it end that way? And what about tomorrow and the latest CPI update?

So we begin Hump Day with markets more calm than we might have expected. Oh, there’s still plenty of volatility and interesting market moves out there, but the stonk market is up slightly after the first half hour of trading and that’s an unexpected development.

The currency markets were again quite volatile overnight and we should start there today. Recall that Kuroda executed his first direct intervention in strengthening the yen three weeks ago when…

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