ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
“…certainly with valuations where they are, I’m sure we’re going to go through a doozy of a correction this year. At some point. I don’t know when. And I don’t know why. But I do know, it never hurts to take profits and to keep some powder dry so that you have the psychological wherewithal … Read more
Housing Market Intro and Summary The housing data for April and now May confirm that the housing market had a kind of false start to the Spring selling season. Normalization continues to pressure short-term trends. Housing starts, new home sales, existing home sales, and home builder sentiment are in key downtrends. These measures are now … Read more
Federal Reserve Chair Jerome Powell served up the alley-oop and James Bullard delivered the slam dunk. While the latest statement on monetary policy had nothing to say about a hawkish turn at the Fed, Powell served up notice during the press conference. Powell noted growth and inflation prospects that exceeded prior expectations, which in turn … Read more
Three months ago, I worried that the Central Bank of the Republic of Turkey (CBRT) was moving too late to hike interest rates. The Turkish lira (USD/TRY) is now finally working its way lower from those levels as the Turkish lira fever breaks. The path to today’s near 4-month low was fraught with wild volatility, … Read more
The Turkish lira suffered another run of sustained weakness this month. Weakness in the Turkish lira drove USD/TRY to new all-time highs. On Thursday, the Central Bank of the Republic of Turkey (CBRT) tried yet again to stop the bleeding. The Turkish Central Bank hiked its policy rate an entire 200 basis points from 8.25% … Read more