The Phaserl


Has It All Just Become One Bad Joke?

from KingWorldNews:

The Greek drama had a slightly positive spin overnight and European stocks were slightly higher. Meanwhile, the early going here was essentially just some flopping more or less around unchanged through midday before the release of dove-ish-er FOMC verbiage made people feel like rate hikes might be later in coming. After a small kneejerk bounce on the news, however, the market drifted back to trading around unchanged, which was where it closed.

Away from stocks, green paper was weaker, oil lost 3.5% (these days that’s sort of like unchanged), while fixed income enjoyed a big bounce. The metals were weaker again prior to the FOMC minutes and then bounced on the news and closed sort of flattish.

Bill Fleckenstein Continues @

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