Short Term Trading Week Starting: 25 Mar, page-8

In case you have not seen this...

Here is the US Attorney General's short summary  of Special Counsel's report -- delivered at 15:35 ET.  Note that there are no full quotes from the report in that summary.

• The letter states that Special Counsel does not find or exonerate the president of a crime. In this case, the AG and Deputy AG exercised their authority to interpret the details of the report and conclude that the president’s actions did not amount to obstruction.  Note:  You may hear that matters of obstruction are normally handled by the House of Representatives.

• The letter states Special Counsel did not find that there was coordination or conspiracy by the president's campaign with the known foreign attempts to interfere with the 2016 election.

Immediate fallout:  The president's detractors are feeling deflated and Democrat members of congress are implying they are suspicious of the conclusions as reported by the Attorney General and will seek the full report.  Supporters of the president and Republican politicians are jumping up and down with glee as they celebrate a big political win.  The official White House statement involves the worlds "complete exoneration" and this is upsetting the president's detractors.  Can you imagine the tweets that are coming?

But it's Monday and you are here to assess risk while you drink your coffee...was this priced in to current SPX levels?  The USD/JPY has opened flat.  We may not find out the full impact of this immediately but the US futures open in half an hour...