ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Housing Market Intro and Summary What happened in the housing market in September, 2024? Existing home sales fell into a deeper downturn while new home sales maintained an uptrend from recent troughs. Rate cuts are helping to bottom out sentiment for builders. However, great anticipation of a rate cut from the Federal Reserve gave way … Read more
Stock Market Commentary In announcing the official end of monetary tightening, Federal Reserve Chair Jerome Powell mentioned some form of the word “recalibration” nine times from his introductory statement to the Q&A portion of the press conference. Specifically, “….it’s a process of recalibrating our policy stance away from where we had it a year ago, … Read more
Housing Market Intro and Summary What happened in the housing market in August, 2024? Financial markets quickly threw out a major downgrade from Citigroup for the housing sector. Hopes for rate cuts from the Federal Reserve continued to impact both the data and stock prices. While the on-going decline in mortgage rates has failed to … Read more
Stock Market Commentary This year’s Jackson Hole confab hosted by the Kansas City Federal Reserve delivered for financial markets. In his prepared speech, Fed Chair Jerome Powell issued an historic and classic sound bite for all of the history of monetary policy (emphasis mine): “The time has come for policy to adjust. The direction of … Read more
Housing Market Intro and Summary What happened in the housing market in July, 2024? July started with a major downgrade from Citigroup for the housing sector. The downgrade at the time confirmed the implications of a bust for the spring selling season. My lamentations about the bust seemed confirmed by further deterioration in the housing … Read more