Remember, as we often see, the first knee jerk reaction to anything out of the Fed is almost always wrong, we saw that as the last FOMC meeting.
Tomorrow we are also going to get a look at Q2 revised GDP, I've been saying ever since it hit 5% before being revised downward, that GDP is on the slippery slope to recession. I would not be surprised one bit if Q2 GDP came in at a number with a "minus" sign in front of it, that's just been the trend.
After that Bernanke will speak at Jackson Hole, Wyoming.
You should make hurricane preparations (risk management-take a look at any positions you might want to take a profit in or any positions that aren't core holdings that you may have been thinking about-it's just time to tidy up) as tomorrow is likely to be a very volatile day.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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