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EUR Traders Deflated
Where is the love? The Fed and China are disappointing risk lovers this morning. The eternal optimists expected more, the cynic and the most jaded of traders continue to sit on their outright short EUR position, waiting for systemic risk to kick in. The FOMC has officially disappointed the market. The minimum of expectations required the Fed to extend the “Twist,” they did, +$267b of it until the end of this year. However, they did not change the structure of the program to include MBS and did not announce new QE. Risk needed that, instead the market gets “twist-light.” Helicopter Ben is not the optimist, he ... (full story)
