Hiding behind the Blame Game………. Yen Update at 1:15 PM CST
The stock market is finding a good shield for the moment, the Blame Game. Republicans and Democrats continue to accomplish nothing on the sequester but the market does not believe that Washington will trigger something bad, we will see.
Yen Update: Market traders , the CNBC crowd, playing the short yen trade and the short yen / long gold trade could be in trouble with the action in the last hour. Granted that this is being caused by a decline in the euro, it does point our the risks created by Central Banks, Japan at this point, in trying to use a declining currency in an attempt to push back deflation.