"Harrowing Reality" - Central Bankers Clueless About Implications Of World Financial System Interlinkages

It’s Friday before a long weekend in the U.S. I expect that, barring any unexpected news, shortly after the University of Michigan data is out, many traders will be thinking about their Valentine’s Day plans rather than the next move in the FRA/OIS spread. Still, how risk goes out will be an important indicator of sentiment. Even if the price action of any individual asset should be taken with a grain of salt.