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Everyone Has A Plan... And No One Has A Clue

"One thing I know for sure," warns Bloomberg's Richard Breslow, "everyone has a plan and no one has a clue." The conundrum can be summarized as why you both have to pay close attention to what policy makers say, and take it all with a grain of salt. Uncertainty about the direction of the economy, where we stand from past and future policy mistakes and no ability to predict how markets will ultimately re-price keeps price action very much afoot.
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