In a nutshell.....
*** The Fed lowers interest rates….a symbolic gesture
*** Stocks down 1%, including financials
*** The dollar weak
*** Commodities strong
*** Gold stocks very strong
*** Energy complex really strong
*** Low grade bonds very strong
*** Long term Treasuries (prices) down
*** The Federal Reserve agreed to provide $30 billion each to the central banks of Brazil, Mexico, South Korea and Singapore to boost the liquidity of dollars in emerging markets.
Bottom line. Money is sloshing around the globe. It is good news for some asset classes. Not for others.
More, much more of my analysis and recommendations when you read the blog archive and subscribe to The Peter Dag Portfolio by going to https://www.peterdag.com/.
George Dagnino, PhD
Editor, The Peter Dag Portfolio
Since 1977
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