Here’s Something That Will Never Happen, But Probably Should…

The ECB and the BoJ are out of the way and generally speaking, most observers think risk assets probably have the all-clear from now until September barring some kind of meltdown at 1600 Pennsylvania Avenue which, honestly, seems just as likely as not - especially after what we learned this morning. One thing that would cause an immediate rebellion from traders the world over would be a surprise from the Fed next week, something exactly no one thinks will happen and something that, to be sure,