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The Morning Look

ByGary Kaltbaum

Market Update:

Futures are higher ahead of Wednesday’s open as markets wait for the Fed this afternoon. On Tuesday, we saw the yield on the German 10-year bund drop into negative territory for the first time in history! That can’t be healthy in the long-run.

Gary’s Thoughts: Today we get Mrs Bubble telling us blah blah blah…is, was , maybe blah blah blah. Amazing markets held hostage on the decision of a whopping 1/4 point or not. That’s what you get when you have central banks running the world with a good $15-20 trillion of printed money, 0% rates forever and now, go look at the matrix we put up at garyk.com on government rates. No bubble? Our arse no bubble!

Economic Data:

  • MBA Mortgage Applications 7:00 AM ET
  • PPI-FD 8:30 AM ET
  • Empire State Mfg Survey 8:30 AM ET
  • Industrial Production 9:15 AM ET
  • EIA Petroleum Status Report 10:30 AM ET
  • FOMC Meeting Announcement 2:00 PM ET
  •  FOMC Forecasts 2:00 PM ET
  • Fed Chair Press Conference 2:30 PM ET
  • Treasury International Capital 4:00 PM ET

Highlights:

  • Russian Hackers Stole Information From the DNC
    Gary’s Thoughts: Russia now knows the Socialist party will try and riase tax rates to 90%!
  • The market remains in pullback mode as the world waits for the Fed meeting and press conference later today…
    Gary’s Thoughts: Let’s hope it is just a pullback.