There doesn’t seem to be much mystery to Friday’s trading action.
The much promoted interest rate increase coming on December 15th was “cemented” (media term) as the Employment Report was “headline” positive.
There isn’t a time I can remember when raising interest rates was a bullish and roulette online positive event. Let’s just conclude there hasn’t been a period in history where interest rates have been near zero for nearly 7 years.
The Fed had heralded todays Employment Report as representing “solid” economic growth. Most sane observers could only conclude the Fed had kept interest rates at “emergency” levels for far too long especially when the previous recession had ended 6 years ago.
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