Fed Preview: Patience won’t be transitory

Although oil rallied more than 20% following the Jan Fed their swift decline to fresh six-year lows raises questions about whether the Fed will underestimate threat of deflation as it did with GDP growth over the last three years.  USD index heading for its biggest quarterly gain since Q4 1992. Adding Q3 & Q4, the USD index is up 23%.  And yields remain muted as bond traders do not buy into a summer rate hike. Full charts & analysis. 

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