From Citi comes a preview of Janet Yellen on Capital Hill tonight:
Yellen testimony meets policy ineffectiveness meets ‘sell everything’ mood
Fed Chair Yellen will confront political, asset market and Fed demons at her testimony this week. The narrative that she faces is that the US economy and asset markets are being sucked into the downdraft caused by oil, China, EM, reserve manager and SWF asset selling, commodities, currency war, the strong USD, weak European banks, weak Japanese banks, weak US banks and policy ineffectiveness & to name a few.
