Fed Whispering

The FOMC’s meeting gets underway today. Like most, this one seems very consequential. The Street is divided on whether or not the Fed has done enough to combat inflation as well as the necessity of a recession. continued for members… … continue reading →

MSFT’s Warning

According to Reuters, Microsoft’s Chief Executive Officer, Satya Nadella, and other Microsoft executives used the words “caution” and “cautious” at least six times during yesterday’s call. The stock, already locked into a falling channel from last November… …reversed its initial pop and is leading the broader indices lower this morning.  Remember, MSFT is the second … continue reading →

Taking a Knee

Futures are up moderately as we approach the open, gaining back much of the losses suffered yesterday in the wake of a dismal pending home sales print (-4.0% versus -0.8% expected, the worst since inception in 2001.) Prices fell MoM for the fourth month in a row. At this point, it appears the bulls are … continue reading →

BoJ Rolls the Dice

The Bank of Japan has kept interest rates at or below zero for years. Their bet was that the suppression of interest rates (by purchasing Japan’s net issuance, the BoJ now owns over 50%) would offer sufficient protection against both inflation and the 263% debt:GDP – exacerbated by the rapid depreciation of the yen. Investors, … continue reading →

FOMC Day: Dec 14, 2022

They’re all important, but this one carries extra significance due to the potential for a slowdown in rate hikes, or at least the commentary regarding one. Futures almost backtested the 200-day moving average overnight, but are now essentially flat. After all the excitement yesterday, our targets remain the same across the board. If anything, the … continue reading →