Currency swings have been much more muted today than they’ve been in recent weeks. Equities are enjoying a quiet session as well, a bit surprising given the carnage in Asia overnight. It is heartening to see that the US is decoupling a bit from the global meltdown. We’ll take today’s muted trade as a victory, though its early. There’s still plenty of time for carnage…
The most hopeful view is that markets have finally been sold-out. He can only hope.
