I think the market is in a dangerous position. It has gone a long way toward pricing out a Fed rate increase, and that does leave you vulnerable if data comes out pointing to inflation.
More Quotes from Mark Cliffe:
Markets want to hear some kind of hint that they'll back up these words with action, specifically intervention in foreign exchanges to drive the euro higher,Mark Cliffe
For most people in financial markets, this is typically put in a box labeled 'too difficult'. There's just no sensible way of producing a systematic probability of the outcomes and it's very hard to put numbers or values on it.
Mark Cliffe
As we go into the new year, we have to ask ourselves 'Can this growth continue, and what is going to happen with Iraq'
Mark Cliffe
For the last three or four years there has been a gradual reduction of staffing on foreign exchange desks for doing these intra-European trades partly because the volume has declined,
Mark Cliffe
I think most of the staffing implications have already been taken on board. It has been happening gradually over a period of time.
Mark Cliffe
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