Gotta be quick today folks. Heading away over the weekend.
We are seeing lots of inflation trades today as the market pounds the currency while it awaits a potential QE from the Fed.
This was a disastrous week for bucky:
Gold moved to a new record high and oil topped $81 a barrell as the dollar sold off hard.
Folks, the Fed is rapidly getting backed into the corner. It's as if the market is pulling a Dirty Harry and daring the Fed into pulling the QE lever:
Stocks are pretty flat on the day as the computers continue to trade with one another.
I would ignore stocks right now and focus more on the currency and bond markets. This is where the real action is. You can't really read into what the stock market is doing. It continues to trade erratically.
That's it for today. Have a great weekend.