Yesterday was a sleepy day.  Today may bring more of the same given the already thinned trading ranks will become even smaller as  this is the eve of a three day weekend, the last hurrah of the summer....

Many are surprised at the unrelenting equity advance.  Three weeks ago all were pontificating the much needed “correction” was at hand.   After a 4% decline, some declared a correction had occurred and the rally can now continue.  I remarked if this was indeed “a correction,”...

Some are interpreting the FOMC Minutes as hawkish.  The Minutes unexpectedly stated the Committee is closer to agreement on an exit strategy from aggressive stimulus, raising the possibility that it might increase rates sooner than anticipated....