What’s Up?

Not the dollar, that’s for sure. Markets are getting ugly as the dollar is being beaten like the proverbial rented mule, not just against the yen which one might expect, given the state of play in Japan (Nikkei unch, bond yields doubled by Abenomics), but against the rest of the world as well – Euro, CAD, etc.

That most hated asset class is being bought, strangely enough, but I’m good with that as one might imagine.

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