It was an unusual day for August...a month that is often remembered for dull, listless, AlgoHell trading where small moves in bonds and/or the POSX make for outsized moves in CDG and CDS. Today was different, however, as the Comex PMs were muted as rates and POSX fell sharply.
Could this be to some Bank desk "interference" with CDG near ATHs and CDS at the critical level of $28? I'll tell you what I think in this podcast and then you can decide for yourself.
The big event for tomorrow will be the 8:30 ET release of the latest CPI. What are expectations for the numbers?...
