Stocks thrive in an environment like we have now. Low interest rates and inflation, moderate but recovering growth. The Fed is still filling the punch bowl, so why not drink up? The hangover won’t start until we stop drinking…
THE modest dip on Wall Street seems to be helping stabilize bonds. 2-year notes are edging higher in yield at the moment, up to 0.97% from 0.95% earlier. 10s are steady at 3.80%.
USD/JPY is rebounding along with yields, now at 92.72 from 92.30. EUR/USD has eased to 1.4380 from 1.4415 after a round of sales led by an Asian regional central bank. 1.4335 is support on pullbacks.
