Financials are down a bit, but all-in-all it’s a pretty standard issue “risk on” kind of day, with investors dumping dollars in favour of “risk” assets, like stocks and commodities and foreign currencies.
But remember: We’re in the calm before the storm.
Next week the QE question gets taken off the table, the election will have been resolved, and earnings season will be basically over. We’ll have also gotten the new GDP number by then (that comes Friday).
Bottom line: We could be looking at a whole new ballgame, and it’s possible that the playbook you’ve been using will be be totally ripped up.