After a quick peak at Leading indicators, there's not much of a story to tell there, which means they haven't given the clear negative signal that they almost always do when it's time.
Perhaps this is F_O_M_C related and the mass sentiment that there will be no rate hike tomorrow and with all of the recent bad earnings, bad economic reports and bad geo-political situations (Ukraine, Greece and shortly Spain, China broadly speaking, ECB, etc.) added to the $USD problems, perhaps there's some sentiment that the F_E_D will throw the market some kind of bone.
that's strictly hypothesis, but unless there's a leak and I'm not sure (unlike the past when we have seen them) that there is, I suspect this is perceptions and anything that's not a rate hike is probably a pretty decent perception and then throw in all of the above.
For the record, I believe the F_E_D has set a course long ago and their actions and plans are a lot less data dependent than they would lead you to believe. They want out, they may NEED out. This is not to say I expect a rate hike tomorrow, it's just opinion.
5 years ago
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