In a sense, the U.S. is no longer leading the scenario. |
It's a real tug of war in the yen. |
Markets were primed for worrying about risk - equities, bonds and currencies too. |
People are looking for reasons to sell the dollar. |
The dollar will weaken. We bought some euros below $1.20. We took advantage of the dip in the euro. |
This is the first time the U.S. bond market has not been leading other bond markets. |