Loading ...The phony jobs report comes out this am, which will no doubt be UNBELIEVABLY strong. BIDENOMICS in action. No doubt they’ll crush pm’s as well, regardless of the number.
All that being said, I’ve noticed a couple things that seem kind of inexplicable.
Yesterday, rates blasted through 4 and closed at 4.03%. This am the 10 yr. rests at 4.06%. Yesterday, and now this am, the USD is DOWN. Rates have risen nearly 1/2% over the last couple of months, maybe not even that long. The dollar hasn’t really gone up at all. We’re told that higher interest rates should boost the dollar, but not lately.
Oil has actually been up this week, despite the carnage in the other commodities. The copper shares have taken a nice little beatdown this week. Why is oil bucking the trend? It’s not screaming higher, but strong nonetheless.
There’s no doubt that the banksters are crushing pm’s and it feels a lot more forced than usual. I still think there’s a chance the Fed is trying to get ahead of a weaker dollar. If that is the case, we could be looking at rates in the teens.
No reason to watch this am. The outcome has been decided.
