Fundamentally there is not a good basis for the yen to rally today. But the bottom line is the dollar is more stable than we would have thought Friday.
The Treasury market rally may be a bear trap. The rally lacks a strong foundation as well as the extreme pessimism that marks the end of sell-offs.
The Treasury market rally may be a bear trap, ... The rally lacks a strong foundation as well as the extreme pessimism that marks the end of sell-offs.
The basis for a rally in bonds has gotten smaller.
The recent rally in the stock market might be captured (in the numbers).
It is a microcosm of events generally hitting the market, ... and it reinforces the notion that there are yet-to-be-reported losses at other institutions that would pose systemic risk.