2014 Christmas Poem

T’Was just days before Christmas

By Michael O’Neill (with apologies to Clement C. Moore)

T’was just days before Christmas and traders galore,

Were closing positions and heading out the door.

The year was reviewed by all traders with care,

In hopes of finding answers to the questions out there.

The questions were known, the answers they dread

While visions of ECB easing danced in their head.

And Ms. Yellen in her kerchief, may have got a bum rap

For that dove may have warned a rate hike is on tap

She said “Considerable time” is now, “patience”, and oh what a clatter,

When the big dollar went bid and the Euro did shatter.

Euro bulls were in trouble, they knew in a flash,

Losses were mounting in both futures and cash.

Traders were sobbing, burying their heads in the snow

Wanting a savior to come and put on a show

When what to their wondering eyes should appear

But a merry central banker with eyes filled with cheer

His glasses on his nose and his Armani suit rather baggy,

I knew in a moment it was Mario Draghi.

More rapid than eagles, EU members they came,

And he whistled and shouted and called them by name!

Now Hollande, now Renzi, now Merkel, you vixen

I will stifle deflation with a new QE blitzen

We will print trillions of Euros and buy everyone’s bonds

And to hell with what they’re doing, across the great pond.

More jobs, more growth, prosperity for all.

I’ll tell you how on my next conference call.

He sprang to his sleigh, to his team gave a whistle

And disappeared in the night with the speed of a missile.

But I heard him exclaim ’ere he drove out of sight.

Merry Christmas to all and to all a good night.

Categories FX, Foreign Exchange, Currency, Canadian Dollar

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