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Waiting On The FOMC (Again)

Daily Rap 03-20-2018

The market saw a modest rally through midday, led by the Dow, which gained better than 0.5%. In the afternoon, those gains were trimmed to the modest ones you see in the box scores.

Away from stocks, green paper was firm, oil gained 2%, bonds were very heavy, and the metals lost ground, led by silver, which fell 0.75% compared to a 0.5% loss for gold.

Another Day, Another Doldrum Once again there is not much to say about what transpired today. Perhaps we will learn more when we see how computers and other hot money react to tomorrow's extremely predictable FOMC rate hike and verbiage.


Last year's posts for Ask Fleck

Q: Bill,

This was a headline in today's WSJ:

"Why Your Water Bill Is Rising Much Faster Than Inflation
Rate increases average 5.5% a year as utilities race to fix corroded pipes and overflowing sewers"

"Bills started rising significantly faster than inflation in the mid-2000s as communities stepped up their repairs of aging water and sewer infrastructure. Over the past decade, the increases have averaged 5.5% a year, more than three times the rate of inflation, according to the Labor Department."

Oh, that's right the government can just use substitution bias in the CPI.....................wait, is there a substitute product?

Fleck: LOL. Don't worry, it's just water, or education, or housing, or healthcare, etc.
(posted: 3/19/2018)


Q: Thanks for sharing the comments from the reader who wrote in complaining about "a con artist like Trump". It is a good reminder to all of us how emotions can impact our ability to make rational decisions (especially financial ones). I let my dislike for Obama to impact some of my investment decisions even though it seemed clear we were going to get a lot of printing by the Fed and asset prices were likely to increase. I am only speculating, but assume that reader probably would not have made those same comments during Obama's time in office...when the deficit increased about $9 trillion. The moral of the story is to just dislike all politicians and pay attention to the central banks!

Fleck: I agree with you.
(posted: 3/19/2018)


Q: Hey Bill,

Appears we have a lot of frustrated subscribers here. We must be gettng close. Now all we need is a bit more "hate" mail sent and the checklist is complete. :)

The best

Fleck: I have gotten plenty of hate mail. Don't need more.
(posted: 3/19/2018)


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