Markets are doing nothing.
Everywhere we look, whether it’s in Asia, Europe, or the US futures market, there’s virtually no change.
The world is waiting for Ben Bernanke’s final Humphrey-Hawkins testimony (his semi-annual testimony to Congress on monetary policy). His speech will be released at 8:30 AM ET, and his appearance will be at 10:00 AM.
People are obsessed with Fed Speak, and there should be a bevy of phrases to obsess over.
For a full preview of the stakes, PIMCO’s Mohamed El-Erian wrote a preview for us, on Bernanke’s high-wire act.
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