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Is the circus in Washington beginning to weigh on the markets? To date Washington has been viewed nothing other than a freak show, a made for reality TV and cable show. Has all crossed over the proverbial lines? Perhaps the only concrete statement to make...

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...

Led by financial and healthcare, equity markets declined the most in a month. Throughout the day many were asking what the possible catalyst is for the decline given positive movement on trade. Some speculated it was the inability of the S & P...

According to the Bank of England (BOE), short term interest rates are at the lowest level in 5,000 years of know financial history.  Long term interest rates are also close to that level....

The headline number for second quarter GDP was horrific.  The economy only grew by 1.2%, half of the expected 2.5% increase.  The primary causes, inventory destocking that subtracted about 1.16% from GDP—the greatest decrease since 3Q11—and a 3.2% drop in residential and business spending.  This...

Treasuries fell yesterday on speculation interest rates may rise at least twice this year.  As noted many times, there is a massive disconnect as to what the market thinks the direction of monetary policy will be in 2016 and the direction the Federal Reserve is...

Today is the commencement of the 2 day FOMC meeting. No change in monetary policy is expected. I am certain the central bank will know the fourth quarter growth rate. Analysts are expecting a 0.8% increase for the period, the slowest pace since the 0.6%...

Last week was one of the strongest weeks of the year, the reason—a potential change in monetary policy that is perhaps suggesting the economy is approaching escape momentum. The week before—the S & P had one of the worst weeks of the year, the reason—a...

There is little I can write about yesterday’s market action. The narrative yesterday was much of the same…concerns of deflation in China causing raw material shares to fall while there were gains in the consumer and health care issues, issues that faced selling for a...