The budget agreement reached by congressional Democrats and Republicans would provide only a modest boost to the U.S. economy. The psychological effect is likely to be a lot greater.
While it is very difficult to profit in sideways markets using futures or equities, it is much easier to set up strategies using options that will profit in a sideways or range bound market.
The yen strengthened from almost a six-month low against the dollar as a decline in global equities spurred demand for the currency as a haven amid speculation its recent drop has been too rapid.
Paul Volcker said he wasn’t involved with writing the final version of the rule that bears his name.