Not much to say here… weakness prevails with financials being hit rather hard today.
Some Fed talk today…Â
Fisher says:Â Â Â Â Â Â Â Â Â Â Â Â Â Â US economy suffering temporary dent in confidence
I say it is more like a train wreck Mr. Fisher!
Evans says:
              INFLATIONARY PRESSURES ARE STRONGER THAN MOST CENTRAL BANKERS WOULD LIKE TO SEE; US CONSUMER HAS BEEN REMARKABLY “RESILIENT” TO DATE
- Notes ‘upside inflation risks’ seem higher than in 2003
- Says credit conditions are “much tighter” for everyone.
- Notes incomes, wealth are dragging on consumer spending.
- Fed balance sheet credit risk is “manageable,” monitoring balance sheet “quite carefully.”
- Says putting more emphasis on personal consumption expenditure than CPI as less emphasis on housing
Inflation pressures are stronger… Duh! Where do these guys get their data? They are late to the party everytime. I guess they never do their own shopping so they learn about inflation second hand.. LOL
Not seeing much interest on the buy side with the exception of a few momentum stocks that seem to just be setting themselves up for a fall.
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