Divergences continue to mount, Historically they tend towards an overshoot prior to reversal.
Banks EPS, although touted as stellar, were in fact a substantial miss for a number of reasons.
Loans have been flat from January to March and now well advanced into decline.
Well's proved to be the canary.
Further evidence will be provided as Companies begin to report.
The PPI is showing strained earnings indications - Input Prices have risen dramatically.
Capital is actively sloshing around, the issue is the level of uncertainty continues to rise.
We are seeing increasing warning signs of Panic.
It is building and will continue as the Federal Reserve is standing pat with their Narrative.
Listening to Jerome Powell - "stability, instability, household Balance sheets, resilient institutions, asset purchases, strong guidance on interest rates, powerful support to the Economy, target Fed Funds rates, 2% on track but expect it to exceed 2% for some time, monitoring stance of Monetary Policy, increased UST, MBS purchases will provide stability, FED understands their obligations to families, FED will do everything it can to support Maximum Employment and Price Stability."
No change to Federal Reserve Policy.
Begin softball questions - underway.
Housing
Employment
Inflation
Investors are - "Not being wreckless..."
We will beg to differ.
Banks EPS, although touted as stellar, were in fact a substantial miss for a number of reasons.
Loans have been flat from January to March and now well advanced into decline.
Well's proved to be the canary.
Further evidence will be provided as Companies begin to report.
The PPI is showing strained earnings indications - Input Prices have risen dramatically.
Capital is actively sloshing around, the issue is the level of uncertainty continues to rise.
We are seeing increasing warning signs of Panic.
It is building and will continue as the Federal Reserve is standing pat with their Narrative.
Listening to Jerome Powell - "stability, instability, household Balance sheets, resilient institutions, asset purchases, strong guidance on interest rates, powerful support to the Economy, target Fed Funds rates, 2% on track but expect it to exceed 2% for some time, monitoring stance of Monetary Policy, increased UST, MBS purchases will provide stability, FED understands their obligations to families, FED will do everything it can to support Maximum Employment and Price Stability."
No change to Federal Reserve Policy.
Begin softball questions - underway.
Housing
Employment
Inflation
Investors are - "Not being wreckless..."
We will beg to differ.