Good Morning and good grief! Our poor stock indexes took a sever -3% downturn yesterday in rising volume while gold and silver continue to plod (now at $1,139.55 and $14.60). Now we're back in rollercoaster mode w/ futures calling a rise in indexes to +0.58% and metals falling -0.38%. The announcement glut continues today with:
7:00 AM MBA Mortgage Index
8:15 AM ADP Employment Change
8:30 AM Productivity-Rev.
8:30 AM Unit Labor Costs -Rev.
10:00 AM Factory Orders
10:30 AM Crude Inventories
2:00 PM Fed's Beige Book
7:30 AM Challenger Job Cuts
---not to mention:
The Fed is also confronting a vastly different economy than when it raised rates in the 1990s, Silvia said. An increasingly globalized world now has a manufacturing glut that will weigh on inflation for some time, he said. He expects that to keep the Fed's rate path even lower than it now forecasts.
Well, isn't that an interesting forecast?