Sequestration On, Risk Off

The push higher in stocks today peaked as the voting began and now as we receive the 'shocking news' that:

  • Senate Lacks Votes to Advance Democratic Sequestration Plan

We see the equity market fading fast - reverting to VWAP first of course. Whocouldanode? What happens next is anyone's guess but FX and bonds sure aren't buying it.

 

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