Sunday, August 7, 2011

After the US credit down grade

6:15 EDT sees the e-mini down and attacking Friday's lows. Bonds are down mildly. The dollar is up against the $A and looks like it might go more. The Euro started off up vs. the USD, but looks like it will not hold on.

If London and New York start selling equities, look for the USD to strengthen and bonds to rise, to hell with the dumb-ass "ratings" firms that were primary causes of the banking disaster of three years ago.

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