Perhaps it’s hazardous to posit anything before the opening bell (UPDATE: SEE BELOW!), but as of this pre-dawn, pitch-black moment in Palo Alto, the entire Goldilocks rally from last Friday’s QE4-powered jobs report has been blown to smithereens.
Likewise, the tumble in bonds have been utterly healed.
At this point, all eyes are on insane criminal mastermind Jerome Powell and his latest announcement about how he’s helping out the common man and totally isn’t a shameless, jizz-guzzling whore for the 1%, honest injun. Keep your eyes on the TLT. All we need to do is break that descending trendline for the party to get started.
UPDATE: Yep, about ten minutes after this post went up, this news came out:
……..which instantly erased all the drop in equities (as of this moment, anyway).
I think we can all agree, if there’s one thing politicians are good at doing, it’s kicking the can down the road. It happened in October, and it happened again now. “Stick To Your Guns” has never crossed the lips of any of these guys.