If the financial Armageddon does happen this week it will be the most well forecasted one in history. Now CME raising bond futures margins in anticipation of increase volatility and declines in bonds. While actual volatility for bonds around 10% roughly where it has been all year and well below say last December, and if I am not mistaken Nas 100 is just off 10 year highs.

Gary Rogan adds:

Speculation about what the "stubborn" conservative Congressmen "need" to "do the right thing" and "compromise" has reached a fever pitch. So many cannot understand why the markets are oblivious to the obvious failure to capitulate and are not providing the necessary pressure to avoid "the terrible fate of default". The best way I heard it put on a radio program full of "thoughtful" independents and liberals is "Why would they seek the safety of a bomb shelter if the bombs are not falling?" 


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