since 2008, sending it daily shortly after the market close.
The opinions expressed below are my own
The bull continues. No real news today. Equities climbed slowly over the morning and treaded water through the afternoon. Very ho-hum stuff. There’s one thing worth mentioning, Nov PPI came in a touch hot (0.4% vs 0.3% est & 0.4% prior).
That’s not a big deal and the CPI datatomorrow
(0.4% est & 0.1% prior) will be more important but if inflation is rearing its head, the Fed’s current course is nicely justified.Tomorrow
the Fed will hike at2 PM
and we’ll get a press conference from Yellen30 minutes later
. The market is going to play the forward guidance game so we’ll see what that brings. Yields have been climbing for a while… so have equities… does one market have to go the other way? We shall see.Let’s just look at some pictures before then.
US 2-year yields (1 year chart)US yield curve (1 year changes)
S&P 500 (1 year chart)
Bitcoin (1 year chart)
US Dollar index (1 year chart)
Average 30-year fixed-rate mortgage (1 year chart)What do these charts mean? Beats me, I just work here.
See youtomorrow
,-Mike