So I’m watching CNBC and their stock spokesmodel is saying “Well, it’s a sea of red out there but we’re trying to focus on the green.”
CEO- “What people are missing is that corporate fundamentals are much better than economic fundamentals.”
Indeed.
I don’t know that I have much more to add so here’s a video-
Dow down 265.87, below 12,000. S&P negative for the year, below 200 day moving average. Both longest losing streak since October 2008.
You remember, the big crash.
“The bond market is not worried about our ability to pay our debts, they’re worried about our ability to grow.”
5 comments
Skip to comment form
Author
… long bond rates dropps from 4.3% to 4.07% as a result of the “deal”, so the bond markets are happy with it. Its the stock markets that are digesting the combination of a stagnant economy, declining state and local government spending, and a federal government recklessly tying its hands to avoid a responsible policy of filling in the growing demand gap.