Sunday, July 31, 2011

It's All About the Deviations

Lawmakers entered each of the past two weekends fretting over how Asian markets Sunday afternoon and Wall Street Monday morning would fare without a debt ceiling compromise... Truly folks, there is something inherently wrong with that picture...

Now don't get me wrong, seeing Dow futures up 180 pts (hours ago the President proclaimed a deal had been struck - a proclamation he surely wouldn't have made without a yes-vote-is-eminent assurance from Messrs. Boehner and Reed) on a Sunday warms my heart just as much as yours... Particularly after the week from purgatory we just endured... But I'm afraid policymakers these days are all too concerned, in my humble opinion, with how traders


  1. It is like watching a bad stage play, and then we go home and continue functioning as before...

  2. Well said!