the language from last fomc meeting tells me rate hike, if it is going to be before the election in November, it will be June 15th. "They" will know how the brexit vote will go, the answer will be stay in the EU, of course, so hiking rates will be what is needed, and that will be it until after the elections. Which should all be just enough momentum down to bounce off yet another insurmountable support TL, sponsored and made possible by... corp buy backs and govt
buying of stocks. Money managers and individuals are just playing along. Apple
will have had just about enough and take a portion of the cash and buy back huge amounts of their stock to create a support zone
. Mortgage rates lower than ever with negative lending rates now, and still re fi
and new home mortgages down 4% YOY. Savings rate are way up. That goal is dead, that cycle has ended, anyone who had good enough credit to borrow did, and lower rates wont help that exhausted market. They will have to start giving away cars or something to get people to borrow from here on in. Now if the US consumer doesn't start buying more "stuff", then what? Recessions folks, looming large. CM
bottom builder indicator signalling a whopper, but not too big a whopper maybe. Just larger than the previous two.