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Perhaps I should have titled today’s remarks that the markets have never really deviated from normalcy. I have written many times that I believe interest rates are the largest component of valuation (and technology based trading) formulas. Markets today are only reacting in greater fortitude...

Several times I have opined the greatest risk to the markets is greater growth than anticipated that challenges monetary policy expectations. As widely accepted a major reason for the December rout was growth and the December 21 FOMC statement that Treasury sales were ...

Equities rose on light volume as all focused upon the Fed’s surprise decision. I will continue to argue that unless external risks rise, the central bank will be forced to change its stance in the immediate future. I ask what happens if China’s economy turns...

Wow! That was a surprise. The Federal Reserve was considerably more dovish than anticipated, suggesting no rate hikes for the remainder of 2019 and only one in 2020. As early as yesterday morning, the Fed was perhaps suggesting 2 hikes in 2019....

Equities were mixed yesterday as the NASDAQ led by the technologies advanced and the Dow fell. Equity volume was muted. Treasury yields were relatively lower and oil rose after Saudi Arabia announced even deeper cuts and Venezuela is...

FRB Chairman Powell stated the healthy US economy has faced some “cross currents and conflicting signals” that officials in January decided warranted taking a patient approach to future interest rate changes. He stated with inflation pressures “muted” the FOMC decision last month to ...

Data posted yesterday was contradictory, perhaps the result of the shutdown. Weekly jobless claims unexpectedly fell to a four week low. Factory orders however declined more than expected. And then there were existing home sales which also missed their mark, the result...

What will be written about market history in 2018?  There was the “too good to be true rally” in January followed by an early February plunge and then a rebound back to previous highs and now a massive melt down that is decimating asset values...

US Treasury Secretary Mnuchin blamed volatility in equity markets partly upon high speed trading and the effect of the Volcker Rule.  Mnuchin stated   “in my opinion market structure has led to a lot more volatility, part of this is a combination of market presence of...