It seems that the market is slowly but surely getting the joke that the only thing that our politicians care about is the Dow - helped by Harry Reid's comments. As it appears ever more obvious that the cliff dive will take place, so with some liquidity back, traders are reducing exposure to stocks (just as they have been buying protection in VIX for a week now - VIX >20% highest in 5 months). Risk assets everywhere are getting a little jiggy with EUR falling and 10Y yields plunging.
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Meanwhile, Gold and Silver are bid.
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