Heat Wave Brings Record Snowfall

Markets, as if consciously conniving to piss up a perfectly good American end-of-summer party, closed the week with a spectacular display of the unknowable.

Friday's Labour Day weekend weather report:

1). Gold right up to the brink of $1,000. Copper not totally impressed, however;

2). The steepener in play once again - at the expense of short yields, not the bund. 10-years outside Germany were another story;

3). The VIX, right jittery mid-week regained its composure by Friday as equities did little, but threatened to the downside;

4). And EUR/USD? Up-ish looking, if you're a stickler for minute details.

Too many charts for the sparse text. Click on the links to see what we're talking about.

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