Robert Sinche
Robert Sinche
banks central certain coming expectation fault grips iceland japan lines markets maybe process raising start uncover
The markets are coming to grips with the expectation that Japan and other central banks will start raising rates. As the process unfolds, you uncover certain fault lines -- and they usually aren't where you'd expect them. Maybe Iceland was the first casualty.
bought continue days dollars few last market quite reason solid
The market had bought quite a few dollars back in the last few days and it didn't find a solid reason to continue that process.
bit positions sustained time
Short-term positions have been squared up a bit ... but now is not the time for a sustained yen rally.
looking
The market's really just looking at the Fed, the Fed, the Fed.
continues data economy economy-and-economics fears fed housing impact might next worst
I think the housing data continues to allay some of the worst fears on how the economy might slow, and has some impact on how the Fed may act next year.
arms basis believe finance ministers points quarter raise saying stand
I don't necessarily believe any of that, but I do think it's better than him saying they're going to raise by 25 basis points every quarter and then have him stand there with his arms out and let the finance ministers take their shots.
fed future
Future Fed tightening is already discounted in the dollar.
basis change couple dramatic fed points seen since toward upside yields
It's not a dramatic change to Fed expectations -- we've seen yields up a couple of basis points since the (data) -- but it's back toward the upside and that's dollar-supportive.