Good Economic News = Lower Prices
Since market forces have been directed by monetary policy everyone knows that everyone knows the markets 6 year bull rally will continue on bad economic data. However, good or moderate, or at least steady economic numbers and figures work to support the FEDs looming rate hike in September.
Today’s non-farm payrolls (215,000 rise) and unemployment numbers (5.3%) came in as expected. See the data below from Econoday. It’s surreal that one governing factor has such a stronghold in the markets direction. The simple question of interest rates is driving us up or down. I suspect that prices will continue to get hit as we work through the next month or so. However, after the shock wears off, maybe the markets will be better off. Maybe, there can be a return to fluctuation! Hmmm… Iron Condor, oh how I miss thee.
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