Ten Tuesday one-liners

1) So Hungary’s prime minister admits to a ‘deluge of lies’, and the HUF rallies from the London open yesterday. Anyone wearing losses in that swine today probably deserves what they get.

2) If everyone in Singapore was so worried about EUR/JPY, why didn’t they mention it in the statement?

3) The high of the year in the S&P 500 at 1326.70 came the week of the May Fed meeting. This week’s high has been 1324.87, and the Fed meets tomorrow....

4) How could Amaranth let one guy take so much risk?

5) Given the collapse in gold, why isn’t the AUD lower?

6) Other than the Mexican Bolsa, other major EM equity markets have failed to re-test their yearly highs a la the SPX. Could this be a sign of distress in the pipeline?

7) The CBI called for a rate hike for the first time in its 41 year history yesterday. What’s next- UK mice calling for more cats in the household?

8) Shhh....don’t look, but USDCNY closed at a new low today. Macro Man may have been a bit premature in puking his EURJPY puts.

9) With the VIX below 12, equity vol looks cheap, and Macro Man cannot resist. He buys 20 October 1300/1355 strangles at 13.

10) Oil looks like it’s putting in a bottom. Macro Man Buys 50 CLZ6 at 65.25 with a stop loss at 63.25.
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