most fireworks in AM (China rate cut, Bernanke’s speech, BoE call, etc) – Volumes back to norm (down -4.5% vs. previous day and -3% vs 20day). Treasury stable (10y rates 1.65%) – Defensives better – fresh-shorts laid out (Energy and Mining specifically). BUT we started to fade after 1) Bernanke said “ready to act” but […]
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