Over My Shoulder

Brent Donnelly: “Automatic Data Processing”

August 31, 2016

My friend Brent Donnelly runs the very-short-term Forex trading desk at Citi. He sends a one- and sometimes two-page note out every morning. I want you to look at the first graph, which he borrowed from our mutual friend Jim Bianco, on how right the market gets it going into the days before the Federal Reserve meetings with regard to whether interest rates will be changed. It seems that the market has to give permission to the Fed to do something. Just a factoid that inquiring minds might like to know...

Download - automatic_data_processing_31_August_2016_AMFX.pdf