As the Great Yellen-dini dazzled with her carefully contorted syntax on Wednesday, aimed at creating inflation out of hot air, the algos went wild for a couple of days and the most shorted stocks (like energy cos in black below) rebounded sharply. But as the dry ice dissipates and the revelation returns that absolutely nothing fundamental has improved…Treasury yields and the loonie have resumed their fated journey south once more. Higher North American growth in 2015? It seems they beg to differ…
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