The Fed is supposedly reducing its “involvement” in the bond market. So, will they really sit on their hands now that the 10Y is testing the top of a channel dating back over 30 years? The charts suggest that if today’s high is taken out, the 10Y could easily reach 3.2%.If it reverses instead, stocks … continue reading →
Tag Archives: Federal Reserve
It was October 1989 and the stock market was in trouble. Two years after crashing 36% (including 20% in a single session) the S&P 500 had made a comeback and had climbed back to new all-time highs. But high inflation, slipping junk bond prices and failing S&Ls were in the headlines daily. On October 13, … continue reading →
The approach of the FOMC meeting which begins today has been very good for stocks. There’s nothing unusual about this. Like OPEX dates, stocks almost always rally into such important lines in the sand. Most investors have lost track, however, of the fact that stocks have usually declined after such meetings.With SPX a few points … continue reading →