Major indexes ended modestly lower after minutes of the latest Federal Reserve policy meeting struck a dovish tone. Long-dated Treasury yields inched lower in choppy trading on the cautious tone which reduced the expectations of a hike in March, while the dollar too edged lower and gold turned higher. Oil fell on expectations of surge
STOCKS Stocks have run up and bonds slaughtered partly in hopes of a quick Trump fiscal stimulus. The 10-year note has gained for the last four days. Even though stocks have held mostly steady, risk has increased in stocks. Now the ‘smart money’ is beginning to materialized that getting any fiscal stimulus plans through Congress would take
Jobs Report Non-farm Private Payrolls came at 156K vs. 170K consensus. Unemployment Rate came at 4.6% vs. 4.8% consensus. Average Work Week came at 34.4 vs. 34.4 consensus. Hourly Earnings came at -0.1% vs. +0.2% consensus. The report, not too hot and not too cold. The Rate Hike After this report, consensus is approaching 100% for
