I’ve talked a ton about volatility (or, more appropriately, an acute lack therefore) in these pages. Currently, the VIX is sitting at a 10 handle,
“Yellenâ€™s remarks in Senate testimony were the trigger point for a market that may have been short dollars, a trader in London said, while Amherst Pierpontâ€™s Stephen Stanley described them as ‘easily the most hawkish message’ that she has delivered as Fed chair.”
“Theoretically, Europe is set to avoid each of this yearâ€™s political pitfalls — but the scares will be genuine. The euro will continue to slide in line with the rising long- term risk-premium around the region, while the bond markets flare-ups will be acute ahead of specific dates.”
So you know, the percentage of the European population that’s still sane (and that’s an ever dwindling number apparently) would have really appreciated it if Trump would have just been satisfied with the damage he’s already done rather than piling it on by dispatching Peter Navarro to weigh in on the legitimacy of the common currency.