Later this afternoon the Fed will release the minutes from its June meeting, and they could spell trouble for the markets. The Fed seems committed to ending its QE program and the minutes in today’s release will, more than likely, serve to reiterate that sentiment. Following the June meeting, markets reacted quite strongly in what […]
Tag Archives: Fed
Déjà vu All Over Again: Is the S&P 500 Stuck In A Sideways Trading Pattern?
“Maybe God isn’t omnipotent. Maybe he’s just been around so long, he knows everything.” For those who may be familiar with the movie, the above quote comes from Bill Murray’s character Phil Connors in Groundhog Day. For those who are not familiar with the movie, it is about a weatherman (a rather not nice character […]
Posted in Articles, Fundamentals Also tagged Inflation, Pattern, Sideways, Stocks, Trading Leave a comment
More Mixed Signals
The Mortgage Bankers Association reported this morning that purchase applications rose three percent in the week ending 5/24/2013. That follows declines in the previous two weeks of three and four percent, respectively. Rising mortgage rates, however, continue to damp refinancing activity; for the week, refinancing activity was down twelve percent. Yesterday’s jump in Treasury rates […]
Manufacturing For Richmond Down In May
Manufacturing activity in the Richmond district continues to contract. Though better than April’s reading of negative six, many of the key metrics in this report showed significant declines. For example, Volume of New Orders was down two points from negative eight to negative ten; the Number of Employees declined six points from a positive reading […]
