Bond Market

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Yesterday was a rather huge and unexpected down day. The market has not yet moved in a parabolic way to the upside and we didn’t see irrational exuberance. From a monthly look, the market has been taking off and starting to get parabolic. My expectations were that after a further climb higher and seeing the Read more…

Economic Reality?

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The game continues to play out in Washington. As expected, the Senate, with the Democrat majority, will pass their version of the resolution, which of course removes any and all of the House’s Obamacare stipulations. So, we head into the weekend at an impasse, elevating the probability of a shutdown next week. As previously mentioned Read more…

Holiday Season Concerns

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A friend recently asked me, “I have something important to mail on Friday, should I send it via FedEx?” I was initially puzzled, but then it dawned on me, my friend is wondering whether the Post Office will stop sending mail during a possible government shutdown. It’s a good question, but not just for her enlightenment. It’s Read more…

US Default?

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The market continues to slip lower and the antics in Washington are not helping matters. For those of you that can’t bear to watch the silliness, you have one Senator reading “Green Eggs and Ham”; another Senator that just will not talk with anyone about anything, and a President said that there is NO negotiating. Read more…

Government Shutdown?

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It seems we are bouncing around from one politically volatile event to another. Just as we have gotten over the Federal Taper hump we are now rushing headlong into the budget, debt ceiling, and government shut-down debate. We have a week for the government to come up with one of three outcomes; do something, kick-the-can Read more…

Debt Ceiling

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Are we over bought? It seems like that’s the question being bantered about this morning. We’ve had a huge melt-up in the last couple of weeks on nothing more than Summers stepping out of the Fed Chairman race and the Fed not tapering. We must come to terms that the rally had nothing to do Read more…

QE Party

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The market rallied and hit those fresh new highs we targeted yesterday. I personally find it amazing that the market had priced in a taper. The vast majority thought the Fed would taper as we saw bonds rallying (sending the yield lower) and gold rocketed higher, but the Fed blew a huge opportunity to taper. Read more…

Political Turmoil

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We lost some ground yesterday in the market and there is broad concern growing about the quality of the recovery and the Federal Reserve’s effort. The Durable Goods data yesterday wasn’t just bad, it was horrible. Now there is growing concern with the debt ceiling as the new Treasury Secretary is requesting that we raise Read more…

Market Turmoil?

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The Dow Jones closed right at that 15,000 level and many are eyeing it carefully to see whether it holds. As the Fed’s taper shadow continues to loom, spurring a sell-off in the equity and bond markets, the economic data is saying, “Hold on a second!”. This morning the Labor Department reported the unemployment rates Read more…

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