The oil markets are adjusting the dollar for the yield curve control implemented to accommodate the stimulus. It takes a week or so of the earth turning to get it right. So our petrodollar managers are a bit behind the curve. The Fed is trying to disguise the YCC for a long as possible, but their front running is being discovered. We should see the petrodollar standard return to toward normal sometime Monday or Tuesday.
What are the petrodollar bankers waiting for? They need to now how willing the average oter is on payin he extra 50 billion a year the YCC costs us.
And they need to see if infrastructure week lasts linger than a week.
Biden’s $4 Trillion Industrial Policy Faces Bigger Hurdles Than Politics
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