Brazil is caught in a combination of its own policy mistakes and powerful market forces.

We know where we made mistakes last year and we know how to resolve them.

You have to wonder why [some companies] didn't hedge, because there was plenty of time along the way when they could have.

Sentiment will swing back in favor of a Federal Reserve rate hike in August if June retail sales rebound.

On the fringes of the market, there is beginning to be some talk of the possibility that the Bank of Japan intervenes to sell U.S. dollars. While possible, the probability seems low at the present.

My sense is we're basically moving sideways. All we did today is chop around.