Investors Seek A G20 Sign

The hot topic du jour - if it's not commodities it could be global yields and the role of your everyday Central Bankers or maybe it's Apple stock trading below $400 overnight? Perhaps tech stock is not significant enough. How about the Italian Presidential vote or all those annoying whispers that surrounds the G20 meet starting in Washington DC today? Will each and every nation reaffirm a commitment to avoid weakening their domestic currencies to gain a trade advantage? Last Februarys pledge to “move more rapidly towards a more market- determined exchange rate systems and exchange-rate flexibility” will surely not keep USD/JPY from its destined 100-handle print?

There is nothing more dangerous than an idle and bored trader. Investors are currently in a wait-and-see mode ahead of the two-day meeting of the Group of 20 industrial and developing nations. The market is expecting to see an early leak of the draft communiqué this morning. The specific reference to Japan,...