The Fed stood pat. The market moved up a smidge and I guess we will see a little more movement in both directions.
The Marketbeat page had something interesting about the two plus years the Fed has been hiking;
• The dollar is mixed. It's gotten stronger against the yen, moving from 109.44 on June 30, 2004, to 115.02 at this morning, but the euro has risen to 1.2843 from 1.2173 in that same period of time.
• The Dow industrials have risen to 11220 from 10396, an 8% gain.
In Euro terms the Dow has not moved much. I wonder if this is an inter-market efficiency where Dow has caused the currency to move or the currency caused the Dow to move.
There are more moving parts to this concept but the idea of different markets having a pricing relationship holds water on some level. Maybe I make too much of it but I think it is relevant.
Oops, now the market is down.
From the married life file; my wife tried to tell me about something nutty her friend said--one minute before the announcement.
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6 comments:
...From the married life:
Mine calls me at 2:45 ( cst ) most days.............
g
their timing can be uncanny
MY wife wants to know why the DOW is heading straight down (now -67 pts as I write) when the Fed gave the market what it's been asking for. Oh, yeah, she wants the explanation in 25 words or less because that's how long her interest in financial conversations lasts.
Retired - Sell the news and/or the stock market always does the opposite of what everyone expects.
roger - i was sent over here by oneguysinvestments because i asked a question he thought you might be able to answer.
i'm really really curious as to your thoughts on the compliance and regulative implications of writing on a blog. i noticed your disclaimer, and i'm wondering if that's enough for you. i work as a fee and commission based FA, and to be blunt i was a very avid blogger prior to my career heating up...i'm only three years into the business. it's something i want to do and have as part of my life, but i'm worried about how to implement it.
thanks so much.
you can email me directly for the compliance stuff
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