US equities opened on a positive note, with the SPX pushing to 2939. There was a sig' swing lower on fed official comments, but 2906 was all the bears could manage, before recovering into the afternoon.
Meanwhile... even before the market opened, the US President was issuing new complaints...
We now have Trump complaining that US bond yields are not negative, and blaming the fed. The anti-fed talk is relentless.
A number of people are starting to recognise that the authority of the US Fed is being ground down, and if anything close to the financial collapse of 2008 occurs, the US Govt' will likely take direct control of monetary policy. The implications of that... should be clear.
Volatility was itself a little volatile, seeing a morning high of 17.68, but settling +5.6% at 16.68. S/t outlook favours the equity bulls... so long as Powell and/or Bullard don't say anything 'stupid'.
Monetary masters on parade
CNBC with a long list of fed officials, and a bonus of the (Canadian) BoE Carney.
It just makes me think of...
|Summer continues to fade|
Extra charts in AH (usually around 5pm EDT) @ https://twitter.com/permabear_uk
Goodnight from London
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