by Craig Hemke
TF Metals Report
As discussed in yesterday’s podcast, there is really no news today to move the markets. There are no economic datapoints and we’re into the usual 10-day “quiet period” the precedes an FOMC meeting.
So this is a very quiet day. Unless something unexpected happens, we’ll likely see lower-than-usual volume and a lot of AlgoHell trading where CDS move inversely with the POSX.
And you can see this pretty well, so far. Over the past hour, the POSX has slid back to UNCH on the day and CDS has bounced from near $25.