“Listen! Do You Smell Something?” Canaries In The Coal Mine

It's quiet out there. Too quiet. The US is closed, but S&P futs are at their highest levels since September, 2006 - a reflection of the market's continuing complacency even as political risk is running higher than ever both at home and abroad. Perhaps today is good day to sniff around for potential canaries in the coal mine. And before anyone chides me for inappropriately mixing metaphors ("come on Heisenberg, one can't 'sniff' a canary"), remember the immortal words of Ray Stantz (Dan Ayk