Katie Gray has not received any gifts yet
Currencies: 18July Our point yesterday, the possibility of more central bank intervention moving to the back burner, was reiterated in Bernanke’s testimony today. Bernanke has made the point that the U.S. fiscal situation is unsustainable, that the Fed is ready to do more, but that here are economic issues that the Fed can’t really impact.
We continue to offer three points. The last two center on risk management:
The “relief rallies” like this have gotten shorter…