An exchange rate below 10.60 gives the central bank margin to cut interest rates by 50 basis points. |
Core inflation is very well controlled and economic growth is weak. The market is starting to price in the possibility that they cut half a point again. |
The political affect on the market continues to be small. We think that at the end of March and beginning of April, the polls will start to matter. |
These guys, their kids will hunt with them, and their tradition will be made. |
This is what we're after. |