Just Charts On the Wall Street ‘Wash and Rinse’ Day – Non-Farm Payrolls Next Week

from Jesse’s Café Américain

The markets moved sharply lower in the late morning sparked by Stanley Fischer, who came out after Janet Yellen’s relatively meek message, and delivered a strongly hawkish message pointing to a rate hike in September.

That was theater of the absurd of course, since a one and done 25 basis point rate hike does not mean a whole heck of a lot.

Although it does send an odd signal about the Dollar with the rest of the world in lowering even into negative rates. I am sure this concerns Yellen, if not some of the other bank-centric governors.

But it did give Wall St a great cue to do a ‘wash and rinse’ on an otherwise sleepy day, and take the equity markets up, and then down, and then back around again.

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