BDORY - Unwelcome August
There is just something about August. It is irresistible, apparently, in all the wrong ways. For starters, there are big ones and small ones, but somehow they all line up against liquidity and plentiful eurodollar money. In the former class there was, of course, August 9, 2007, August 9, 2011, and August 10, 2015. Even in the latter category there was August 28, 2013.
If July was a reasonably calm month if only by contrast to April and May, August, less than halfway through, is proving the "dollar's" larger move (not "weak"). I wrote last