Strange I should think of this week as a quiet one when there appeared to be plenty going on. Saturday’s announcement of the renminbi revaluation, Tuesday’s UK budget, Wednesday’s FOMC…
But most of these events were really non-events for news: Monday’s knee-jerk reaction to the Chinese move was seen for the sideshow it is; the budget, while severe, contained no surprises; as for the FOMC, nothing was what we expected and nothing was what we got.
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