Good News, Bad Banks And The Dollar

The dollar is coming off its worst month since November, when a cooler-than-expected CPI report and excitement over the Fed "step-down" story triggered a reversal of fortune for assets of all kinds. The ~2% drop was meaningful, and never let it be lost on you that a weaker dollar is a boon for risk assets, all else equal. All else wasn't exactly "equal" in March, but falling yields and a back-footed greenback certainly didn't hurt in terms of the broader equity market's capacity to ignore or o