Fed Agonistes

(1) Modus operandi: Another relief rally following another panic attack. (2) Technicals improving. (3) Another merit badge for Bull/Bear Ratio. (4) Fundamental picture brighter too. (5) Orders and production components of US M-PMI back above 50.0. (6) Fischer doesn’t know what the Fed will do next. (7) Dudley having second thoughts about hiking rates again soon. (8) Is the Fed moving away from core inflation towards headline inflation? (9) The plunge in oil prices matters, Bullard says, and Fischer agrees.