US equities opened a little choppy, but it was enough to generate a new historic high in the SPX of 3198. The afternoon saw minor chop, settling a single point higher. Volatility remained subdued, with the VIX settling +1.2% at 12.29.
The demands continue
The US President wants a great many things, not least lower rates, QE (someone really needs to tell him the Fed balance sheet is already +$340bn since August), and a weaker USD.
The Schiff - as is typical... replied.
Former Fed chair Greenspan appeared...
Greenspan's notion the fed is a 'professional operation with first class research' is laughable. The Fed never saw housing as a bubble in 2006/07, and it sure didn't see the subsequent economic collapse that almost took down the entire financial system.
|Despite some rain... London fireworks|
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Goodnight from London
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