This is a short post to provide market update and my view. Is the Market is showing sign of weaknesses or strength NOW? Reit/Stocks/Crypto lovers time to buy buy buy?
The market has a huge one day jump last week before starting to show sign of weaknesses whereas 10 years US treasury yields have been dropping until 3.5% from 4.2% previously. The US market opens with red but closes flat on Friday.
The big one-day jump is because Powell said:
The one-day jump is because the market think that Fed had pivoted. This is summary of what Powell said on Wednesday:
- Smaller interest rate increases are likely ahead.
- This could start in December.
- Monetary policy likely to stay restrictive for some time until real signs of progress emerge on inflation.
- We will stay the course until the job is done.
My Perspective – Market is showing sign of weaknesses again
Do you really think that the Fed pivoted? Think again? Is the interest rate lower now? Will it still rise again or will decrease? Does rise slower mean rate is low, inflation is curbed? With higher interest rate means cost of funding is high, businesses/economies will suffer. Some overleveraged companies might collapse. Let’s wait and see.
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