Mar

5

The Fed, markets

March 5, 2023 |

the useful:

El-Erian says the Fed should go back to raising interest rates more aggressively

re completely independent and don't take into consideration such things as market moves or politics: they act like puppets with some inexorable force puling on them to arrest market declines like yesterday with Bostic. methinks the Governors and their spokesman and the agrarians at Treasury protest too much.

an admirable performance for the optimists [3 March]: S&P, gold, crude, at 10-day highs, bonds up on week. sogi has Kona coffee twice in day and Prof stands tall. barron coleman day. grains at low. wheat lowest in 18 months. corn lowest in 5 months. fed can pretend they worry about personal consumption prices, as long as it helps the idea that has world in grip.

That same deception: "The Fed doesn’t care as much about Wall Street as Wall Street thinks, meaning that market-based indexes of financial conditions including stocks and bonds aren’t so important to them." the conventional wisdom they like to spread.

where will the markets go next week? after a 20-day minimum and two big up days in S&P but not a 20-day high again. about a once-in-year event. the stats favor Bonds.

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