Kudos to MMs

Strange action. So let's get this straight, dollar is rallying on the back of the unemployment number, based on the outlook of higher interest rates faster than most are anticipating. So far, no problemo.

My problem is with tech holding up better than the DOW and SPX? Zero chance. That makes no sense.
 
Quote from nitro:

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From this coming meeting on, the delta that the FED raises goes up by 5 delta, so that by Mach of next year, we are at about 25 delta of a .25 point FED raise.
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JUN FFFs doubled odds of a FED raise to 72%. The March are close to my value of 25% chance.

Getting interesting.
 
Interestingly enough, "NFV" is not budging and in fact has gone higher

"NFV" ~1125

It is almost as if the market is saying, sure, there was a "reflective" dollar "carry trade" where cheap US money was used to fuel the (global) rally. Fine, that is over, we will just shift over to the YEN when the FED raises rates and continue buying US equities.

As I said once before, the liquidity excess isn't just US dollars, it is anything that can be converted into US dollars.

The whole world has to raise rates in unison, or it creates regional bubbles.
 
Quote from nitro:

JUN FFFs doubled odds of a FED raise to 72%. The March are close to my value of 25% chance.

Getting interesting.
More...

If the Fed hikes FF while still buying mortgages in the open market I might very well quit trading. I'm serious
 
Quote from Daal:

If the Fed hikes FF while still buying mortgages in the open market I might very well quit trading. I'm serious
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Well, this is well into next year...
 
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