Wednesday, August 12, 2009
Now, Macro Man has been getting a lot of sun....certainly more than he does in England. And yes, he's been drinking a lot more margaritas than usual. So maybe he's just a bit fuzzy. But he could have sworn that there was a pretty strong payroll figure released a few days ago. He even has some sort of recall of fixed income getting whacked.
And yet, when he looks at the reds today (exemplified by September 2010 Eurodollars, below), he sees a contract trading well above its pre-payroll levels.
Perhaps he should have a few more margaritas to set his mind straight....