DXY is up and away as X-date approaches:
AUD is hanging on grimly:
Gold is under intensifying pressure as other commodities rise on hopes of an X-date deal in Washington:
Miners too:
EM stocks have died:
Junk is not well either:
The Treasury yield curve is flattening again:
The tech bubble inflates!
Small US banks short-squeezed:
Be careful what you wish for. If X-date passes as a non-event then a deluge of Treasury issuance will suck liquidity from the market just as the Fed may be forced to hike again.
The rising DXY will hammer global capital flows and we’ll enter one last yield spike to finish off the economy and stocks.
CNY is already warning that trouble is afoot for EMs again:
AUD will remain under pressure for as long as this X-date resolution trade runs.
