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Posted on 09/18/2015 4:53:40 AM PDT by blam
Myles Udland
September 18,2015
Good morning!
It's the morning after the Fed's big meeting where they decided to keep interest rates pegged near 0%, and after a wild swing on Thursday that saw stocks ultimately end the day lower, futures on Friday morning were pointing to a lower open to close the week.
Near 7:00 am ET on Friday, Dow futures were off about 175 points, S&P 500 futures were off 20, and Nasdaq futures were down 45.
Each of these declines were about 1%.
FinViz
And while stocks were sliding, bonds were rallying as the yield on 2-year note, which had spiked to as high as 0.81% ahead of the Fed meeting falling down to as low as 0.66% on Friday morning.
Meanwhile the yield on the 10-year Treasury note was around 2.14% and the 30-year bond was down to 2.96% from over 3% ahead of the meeting.
The big takeaway from the Fed meeting came in three parts.
(snip)
(Excerpt) Read more at businessinsider.com ...
Weird. Stock index futures were flat earlier this AM, [checking] YIKES! Down -0.71%!!!! Related thread: http://www.freerepublic.com/focus/f-news/3338259/posts
Interest rates are kept low because the Fed does not believe the unemployment and growth numbers from the obama administration.
Thanks for the ping to the thread; post.
“Interest rates are kept low because the Fed does not believe the unemployment and growth numbers from the obama administration.”
This is a reasonable assumption. Unless you live inside the beltway or in the havens of the 1% in major cities and resort areas you know the economy is weak and unemployment is much higher than reported. In addition, if you shop for groceries, pay a monthly utility bill, purchase items for the home, pay college or private school tuition, use medical care, or require service on an automobile you know the government’s 1-2% inflation rate statistics have been a lie for over a decade.
So basically the”economy” as measured by the stock market is now supported by the Fed dumping billions of dollars printed out of thin air on the big banks. Whoever knew that prosperity was so simple as running a printing press.
“Buy the rumor, sell the news.”
—Old Wall Street saying.
Not all moves are meaningful, or easily explained.
Yep, someone is lying.
They really would be slammed if the Fed raised rates.
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