Either Bloomberg doesn’t have anything on traders, or traders don’t have anything on reality. Read this:
With all due respect… uh? Rating cut concern? Yields are pie-in-the-sky, the summits keep getting more and more ridiculous, and there’s discussion from France Presidential contender Hollande as well as Finland that this entire thing should be euthanized, and the people you’re relying on for your reasoning when the euro falls is the judgment of the last horses in the race? Wow…
We were two pips off the lows from two months ago. That’s pretty much a single trade. Things are looking bad technically and fundamentally, with no one knowing what should be saved or how. I have yet to see a clear explanation in comprehensible language (if not logic) that explains just what the result of the last meeting is supposed to accomplish, and by when it’s supposed to be accomplished.
Returning to the opening line, either Bloomberg is spewing unchecked remarks, or the worlds traders are trading unchecked remarks, which is what I take the musings of behind-the-curve ratings agencies to be. Lets hope Bloomberg doesn’t know what is going on, because the other alternative would be somewhat too dangerous to contemplate.