The Immortal Words of John H. Cochrane and Irving Berlin

Here we sit with nothing but blue skies ahead. Kind of reminds me of the popular song of the same name (I enjoy the Frank Sinatra and Willie Nelson versions of Blue Skies).

The blue days have come and gone. Nothing but blue skies for investors from now on.

Fed Wednesday. It might be interesting.

Quiet so far this morning in front of the Federal Reserve Bank’s pronouncement on all things monetary due out later this afternoon. We wait to hear how Mr. Bernanke & Co. will decide to save us from ourselves yet again.

One of the questions on the minds of traders everywhere might be: When will Mr. B and Co. decide it’s time to start removing some of the hooch from the punch bowl? We are not sure we will get an answer today, but maybe the Fat Lady of the Fed is warming up. Yesterday, we saw a story indicating as such:

“[We Won’t Be] Waiting on the World to Change.”

Some of you may not know this ... but this week is Climate Week. The goal is to spread the word about climate change and the importance of enacting climate change legislation that addresses key problems associated with man-made global warming.

I will not be participating in Climate Week.

More of you may know that this week Pittsburgh, PA plays host to the G-20. The goal is to spread the word about economic status quo and the importance of enacting stimulus policy that addresses the major deficiencies associated with man-made financial crisis.

Packing on the Pounds: Sterling Looks Heavy

The British pound, relative to the euro or the Australian dollar, has traded heavy over the last two months. On days when it’s up against the US dollar ... it’s up less than the commodity dollars or the euro. On days when it’s down against the US dollar ... it’s down more than the commodity dollars or the euro. While the euro and Aussie shot to new highs with ease, the pound remained wallowed in range-bound trade. What gives?