Wall Street’s fervent hopes and prayers for rate-cut ammo were not fulfilled.
The inflation index the Fed anointed as its yardstick booked two big jumps in a row: May near the top of the range since 2010; April, third largest jump since 2010.
For six months now, folks said the Fed had made a “U-turn” and would cut rates at the “next” meeting, etc. But none of it happened — and might not happen. Here’s why, in Powell’s words.
The rate cuts for 2019 are a pipe-dream: Goldman Sachs and Deutsche Bank.
Those who bet on the most obvious short in the history of mankind got the heads handed to them.
Stock market and corporate bond market are in la-la-land, pricing in an economic boom. They’re not seeing a rate-cut economy. So why would the Fed?
The “yeah but” shows up again.
Transcript of my podcast.
One of them is wrong. Watch out for it to snap in an ugly manner.
Brick-and-mortar department stores – the lucky ones still open – are on schedule to be toast.