Tuesday I wrote this week has the potential to dictate the direction of the markets for the immediate future. Based upon market performance, the data has been a nonevent as the S & P 500 is virtually unchanged, down 0.33%....
Many times I have commented about the lack of monetary velocity or the turnover of money and its impact upon the economy. The St. Louis Fed recently published a report quantifying the impact of this lack of velocity....
Equities led by the energy sector traded nominally lower yesterday on profit taking. Treasuries declined significantly as prices have perhaps massively overshot “fully valued” given the economic and inflation environment. In my view both markets have been inflated because of the massive amount of cash...
Will geo political issues ever impact the markets? Perhaps the correct answer is when these issues start impacting economic activity....
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....
There is little I can write about yesterday’s market action. A report showed there was the biggest ever jump in durable goods orders and consumer confidence unexpectedly increased....
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,”...
The much hyped speech of FRB Chair Yellen has come and gone with little impact. Yellen’s remarks were similar to that of the July FOMC Minutes which showed the Committee growing more aware that labor markets are approaching full employment albeit the “underutilization of labor...
The much hyped speech of FRB Chair Yellen has come and gone with little impact. Yellen’s remarks were similar to that of the July FOMC Minutes which showed the Committee growing more aware that labor markets are approaching full employment albeit the “underutilization of labor...
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....