Friday, August 21, 2009
...then you shouldn't say anything at all. At least that's the wisdom that Macro Man and Mrs. Macro try to impart upon the Macro Boys. Regular readers will observe that your author often fails to live up to his own advice....but not today.
Maybe it's the sunshine....maybe it's vital cricket match being played here in London....maybe it's today's equity option expiration....or maybe the market's just ground down by recent erratic price action. But despite today's expiry and the start of he Jackson Hole conference, today just feels like an "old skool", dreadfully slow August day. And the lingering effects of jet lag have rendered Macro Man unable to say anything useful about it. He just has nothing to say about a market that does a 10 point round trip on an old rumour of Chinese policy tightening (that, ironically enough, doesn't seem to disrupt Chinese markets in the least!)
And readers with useful insights are welcome to share....the floor is open.