It's been surprisingly orderly, as the reaction was expected because of the headlines over the weekend. It could have been much uglier. Bart Wakabayashi More Quotes by Bart Wakabayashi More Quotes From Bart Wakabayashi There's a lot of speculation that we've seen the end to the rate-hike cycle and many people are even talking about rate cuts this year, the immediate is going to be the messaging from the Fed plus of course their action. Bart Wakabayashi company-news The immediate is going to be the messaging from the Fed plus of course their action, if we're assuming that the market is still long dollars, any sort of change in that is going to have a pretty lasting effect. Bart Wakabayashi company-news Ahead of the weekend, there seemed to be a market consensus that something would get done for Greece, so it was a rare occasion when the market takes position for the optimistic view. Bart Wakabayashi most-read-articles The drop by dollar/yen was shocking. It was a reminder of how scary the market can become when positions are tilted suddenly in one direction, the dollar's climb in October and November was very steep, so adjustments like this were bound to happen. Equities are going through similar phase after their rally. So far I see it more as position adjustments rather than a more significant change leading to 'risk off' moves. Bart Wakabayashi most-read-articles People are just squaring up ahead of the holiday, overnight, we got some mixed U.S. data. It wasn't shiny, but relatively speaking, the U.S. continues to be the leader. Bart Wakabayashi business
