- Last week the Fed met, and for a few hours everyone thought it meant one thing, but by the next day, everyone had decided that it didn’t mean that at all.
- In the end, bond yields barely moved and the outlook for the economy only changed mildly. The 10-year Treasury note yield was 1.46% on Monday and 1.45% on Friday.
- Markets that had moved too far in one direction moved back in the other direction. The correction of overextended markets is just technical, an adjustment of an extreme.
- Lastweek’s dollar move higher wasn’t any more significant than the previous movedown. We’re still stuck in the same range as before, and there is way too muchuncertainty right now for a big move in either direction.
For further details see:
Weekly Market Pulse: Never Mind