Trick Or Treat? Very Appropriate Phrase
Earnings awful, but markets much higher (no surprise to readers of Jae’s Corner, the numerator isn’t the captain of the ship, it is that one-way, low volatility of interest rates and its conjoined twin (foreign exchange) has allowed the wrongly-formulated narrative to exist and persist.
Inflation rages, interest rates lower
Economists say the Fed will need to back down, even after Fed officials have paraded to the podium to say otherwise
Today is the last day of the month, when mutual funds and money managers close books for valuation purposes (and fee calculation purposes), so thinly traded securities get pushed around by motivated parties. If that seems vague, it’s for the subscriber’s section, not today.