“Traders Have Lost Confidence In Their Ability To Trade”

Monday, March 27, 2017
By Paul Martin

by Tyler Durden
Mar 27, 2017

The markets have a bigger structural problem than just what to make of the ineptitude centered on how the health-care bill was handled. Even though this issue will only get worse when it fully sinks in – that the chances of it leading to some new brand of bi-partisan cooperation got less rather than more – Bloomberg’s Richard Breslow warns the finger-pointing and gloating don’t leave much room for optimism.

Watching things trade on Friday afternoon baldly made the point that traders have lost confidence in their ability to interpret what’s plainly market-moving news. Far from hoping to be the first to trade, they need someone else to commit and help create the narrative. And going home with a new position over the weekend has become too daunting an experience to consider. No wonder so many funds are shuddering and then shuttering.

Coming in this morning, the dollar, equities and Treasury yields are all noticeably lower. Everything looks like it makes sense. But only if you don’t ask yourself just what people were thinking after the news hit.

The Rest…HERE

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