Emerging Money Daily Audio Call September 21 - We are halfway through the CB doubleheader with a victory for cyclicality in the first game.

Phone AudioIf anything we see the BOJ having sent implicit tightening messages even if this is not what they wanted to do.  Rates are in play and so is the Dollar.

JGB yields will be positive before too long.

Make no mistake that the $FDX results after the bell yesterday are an important part of the cyclical rotation story for markets and may tell the tale that other transports and shippers will tell:  they have some pricing power and see end demand improving.

Fed on deck at 2pm will clearly have a say over what direction the market closes today but positioning seems balanced going in and volatility is falling right now.

Tune into your account for today's important call.

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