Stepping Back From The Edge

Oh boy, things got a little dicey overnight and it appeared that we were set for a very interesting and volatile Friday...until...a little leak from Jerry to his buttboy at the WSJ. And now, as if by magic, suddenly everything has stabilized.

Here's a rundown of how crazy things had gotten. At their respective highs and lows:

• USDJPY was up 1.81 at 151.95
• POSX was up 99¢ at 113.83
• S&P futures were down 35 points at 3632
• The 10-year note was yielding 4.34%
• Dec22 Comex gold hit a low of $1621

And then...