Brazil’s Lower House of Congress Launches Impeachment Proceedings…

by Chris Gaffney
Daily Pfennig

Good morning and happy Friday. Markets were much quieter yesterday but continued on the paths set after Wednesday’s FOMC meeting. But after all of the excitement on Wednesday, the relatively calm Thursday was a bit of a relief. Frank sent me some notes from his trip which will kick off today’s Pfennig – so take it away Frank:

I have checked in on the news mid-afternoon Thursday from a distance. There is a lot of noise but not a lot of policy statements to go around. Maybe it’s just me but it would be nice for someone from either party to actually produce a proposal that starts with the line: “if elected the first bill I would request congress to consider would contain the following 25 elements. The second would be, . . . ” Guess those things don’t matter anymore.

I’ve been at a news deficit for a few days already and frankly things haven’t changed. The price of oil is up a bit.

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