NY Open: Watching paint dry
Traders are on tenterhooks ahead of the release of the latest FOMC meeting minutes later today. They shouldn't bother. Fed board members have repeatedly flown the dovish flag in recent days, so why expect surprises?
Today's edition of the Saxo Morning Call features Saxo Bank Head of Commodity Strategy Ole Hansen, technical analyst Kim Cramer Larsson, and fixed income specialist Althea Spinozzi discussing the latest news out of China, where a weak manufacturing print along with trade fears ahead of the newest round of US tariffs has sent shares lower yet again. Overall, we see investors staying bullish USD and bearish bonds, but the headline risks are many and varied; note that US markets are closed for Labor Day today.