The View From the Bottom
Although the leveraged speculating community received a bit more of Operation Twist than originally advertised, it was not enough to placate the throngs looking for something more: namely, incremental dollar liquidity. This being the case, risk assets were dumped in droves and the selling has accelerated overnight. The euro has broken below 1.3500 vs. the U.S. dollar, and Brent Crude is below $107 a barrel. In addition, gold, silver, copper and the grains are all being pummeled.
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