Ex US Treasury Sec Summers on Bloomberg tv 28 Feb
- don't think overall budget approach is appropriate in US
- deep forces operating to reduce real interest rates
- US can't carry as much global burden as before
- trade is a win-win game
- more people seem too serene rather than alarmed
Coming from the Democratic side we wouldn't expect Summers to be singing too many praises but comments all to throw in the current mix.
Meanwhile FX pairs oing nowhere in a hurry.GBPUSD 1.3895 EURUSD 1.2217 USDJPY 107.11 AUDUSD 0.7806 (still pinned to large option expiry interest at 0.7800)
