The Dollar’s Side of the Teeter‐Totter is Least Heavy

So what’s changing?

Well, credit market indicators have improved. The first signs of improvement came as
last week finished up. And so far this week the improvement has stuck.

The global soup de jour is now State‐backed private debt. Kind of an oxymoron, I know.
But in other words, governments around the world decided that guaranteeing debt of
their country’s respective banks would be the newest best way to insight confidence,
reduce counterparty risk and stem the lending crisis.