A marketwatch.com article a day or so ago opined that an overly strong employment report out last night would continue to rattle markets because of increasing odds the Fed will delay rate cuts well beyond June and possibly beyond 2024. That seemed logical enough for me.
Now there is an article that because the jobs report was supersized strong, rate cuts and their timing doesn’t matter so much because the economy was so strong that corporate profits will justify higher market valuations! We’ll have to see how long that view prevails.
Sigh and double sigh!
Next week’s CPI and PPI reports now loom and will keep financial journalists busy with a full range of views and opinions lol.
Well done to the faithful and fleet footed bulls last night.
Warning bells still include:
- oil prices breaking out into pain (inflationary) territory
- $US breaking out into pain territory for other currencies, particularly the Euro and European share moarkets
- commodity prices in general rising (more inflationary pressures
- geopolitical pressures, notably the Mid-East, Ukraine and Taiwan
It seems to be a tenuous time for markets, where day to day news and opinion can have conflicting views as to market valuations and direction.
Mum is doing well, and has most of her speech range back and already compromised mobility back, but cognition seems to have taken a small hit … this episode has been the impetuous that seals the move to Sydney high care near family … so the next weeks to months will be tied up with that move and unwinding her affairs in Berry … it was tap on the shoulder she needed and I am glad I persisted gently over 4 months discussing and inspecting options … so no surprises.
Hagwa
Dex
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