According to the fed funds data just 24 hrs ago. The chances of a rate cut were already at 75%, what powell said today was absolutely nothing new. He knew he had to speak as dovish as possible because he knows he has to bow down to wallstreet .... Its interesting though, all this talk now about unemployment ticking higher and job losses mounting yet equities keep rising, last I heard was that gdp makes up 70% of consumer spending....wellllllll if unemployment. Is ticking higher and jobs losses are mounting why are stocks completely ignoring this huge red flag???? Just very odd that they are using the unemployment figures as an excuse to lower rates when wallstreet is literally having an absolute party .....if everything according to the data is showing a resilient economy and block buster earnings then why are they ever so desperate for these rate cuts........
Would be interesting to see the next jobs number show quite a gain in jobs and then the fed funds rate suggesting now only a 38% chance of a rate cut in September or better yet the fool cuts rates in sept and December and then an uptick in inflation starts to pop up. Markets would really get a kick out of that. Also will be interesting to see where the 10 yr ends up during these rate cuts .... They also believe cutting the rates will bring mortgage rates lower, thats why homebuilders are jumping again....however with more demand in housing if rates do drop will only once again cause another move higher in housing prices... Also anticipating what rate cuts will do to the 10 year .....maybe it jolts towards 5%, that would cause major havoc in the markets.
A top??? Dont say that too loud..... I keep hearing that there is no top in sight...that s&p will keep jumping and end the year up above 7000 and beyond...
a top would be when @S2007S shuts the fuck up with drama post... but that will only happen when a tv with a channel changer is invented for liberals