Unless you have a crystal ball and the ability to execute trades slightly faster than the speed of light, I’d suggest moving to the sidelines ahead of Wednesday’s Fed-palooza. I’m taking 9-to-4 odds that Yellen will backtrack on her “maybe, just maybe” guidance on a rate hike come June. Seriously, folks. How can the Fed possibly walk the walk with euro rates for big depositors in negative territory and the dollar in a parabolic rally? If the Fed does try to untalk-the-talk, the hysterical scramble by the bozos of the OPM world to unwind six weeks of bad decisions should be quite a spectacle.
