Posts Tagged ‘Dovish Fed’
ISM sinks to post-2009 lows; Industrial Economy Recession a Catch 22 for Fed
November ISM sank to the lowest level since 2009. Stunning, that the ISM (Institute for Supply Chain Management) survey, formerly known as NAPM (National Association of Purchasing Managers), printed 48.6, the lowest level since the throes of the financial crisis. For perspective, the last time the ISM printed sub-48, in June 2009, the S&P was 900. Today,…
Read MoreDovish Fed Minutes Ramp Market; Valuing the Yellen Put
The September 16-17th FOMC minutes were released Thursday afternoon, continuing the market’s Beast Mode reaction to Fed dovishness. The S&P 500 completed the best week of the year, barely down-ticking from 1,893 to 2,015. The market rallied 7% from the lows after the September Employment report to the highs yesterday. The 122 handle rally takes the…
Read MoreSuper Dovish Fed Persists
The Fed’s lack of policy response, and subsequent press conference, evokes memories of a scene in Bronx Tale… What’s going on here? Now you can’t leave. I will never forget the look on their faces. All eight of them.Their faces dropped. All their courage and strength was drained from their bodies. They had a reputation for breaking up…
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