Although the economic data this morning was a bit weak, that did not give the expected boost to risk assets on expectations of a Fed end to interest rate increases as one might have expected.

Instead what we saw was a flight to safety.

The Dollar chopped sideways, declining slightly.

VIX rose.

And gold and silver were on a genuine roll, while stocks were just rolling over.

We will have the FOMC rate decision tomorrow afternoon.

Expectations are for a 25 bp increase, but *maybe* some indication that we are nearing then end of this tightening cycle for now. Or not.

Non-Farm Payrolls on Friday.

My suspicious side is wary of a precious metals 'wash and rinse' dead ahead, but maybe that is overthinking it.Or not.

The political landscape appears to be dreary as usual, and in most places, it seems.

The choices shaping up are the usual Hobson's choice among lesser undesirables, between the Devious and the Oblivious. Ugh.

Have a pleasant evening.

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