Yellen Testimony Overshadowed By Brexit, Soros Warns Of “Black Friday”
Janet Yellen trekked up Capitol Hill on Tuesday for her semi-annual Humphrey-Hawkins testimony. Frankly, it kind of feels like a snoozer. Here are some of the bullet points: WE DO HAVE LEGAL BASIS TO PURSUE NEGATIVE RATES NOT CONSIDERING NEGATIVE RATES BREXIT-RELATED FINANCIAL VOLATILITY COULD AFFECT U.S. I DON’T THINK RISKS TO FINANCIAL STABILITY ARE…
Everything Is Fixed, But Watch For “Tape Bombs” Ahead Of Thursday
We woke up Monday morning and everything was fixed. Actually, it started last night when the British pound suddenly spiked above 1.46. Liquidity was thin, according to traders who also told Bloomberg that market-makers in some global banks have been told to cease quoting short-dated GBP options until further notice. The GBP rally set…