Professional system trader Art Collins shares his daily biases in the index, bonds and currency futures markets for September 12.

But what does it mean when the world's most free-market government nationalizes its largest finance industry?

Despite the release of bearish US data, the US dollar was strong across the majors for much of the day as risk aversion remained the predominant them.

Professional system trader Art Collins shares his daily biases in the index, bonds and currency futures markets for September 11.

Will the EUR/USD come screaming back?

Was there strong US data on hand?  No.  Hawkish comments from a Federal Reserve member?  No.  So why did the dollar gain?

Professional system trader Art Collins shares his daily biases in the index, bonds and currency futures markets for September 10.

The sharp moves in the euro versus the US dollar have been the result of expectations that, in the near-term, the Fed will hike rates and the ECB will cut.  However, there are indications that these shifts in interest rates won't even occur until 2009.

Bill Bonner writes that the idea of taxpayers bailing out the mortgage finance industry is ridiculous.

There was a clear and notable sign of relief as risk appetite jumped for equities, but in other assets, the price action was surprisingly reserved or somewhat counterintuitive.