Today brought another drop in rate cut expectations and CDG fell in sympathy. However, a lower POSX helped to elevate CDS. So what does it all mean in the grand scheme of things? Not much, particularly with Comex option expiration pending for tomorrow.
And tomorrow will be a volatile day. Not only do we have monthly option expiration at the Comex close, we get two economic datapoints at 8:30 ET that will shake things up. So be alert and on the look out for rapidly changing conditions during the US morning tomorrow.
For today, a general discussion of the day's events and...
