Roses are red, rhododendron are green,
The market’s about the strongest we’ve ever seen,
Pansies are pink, orchids vermillion,
The Fed’s balance sheet’s at $4.5 trillion,
Prices are up, unemployment is down,
Rates on the rise, but hey, don’t you frown,
For Yellen is sellin’ that things’re warming just right,
But three or four hikes are not out of sight. That should keep our interest up.
Once again … new highs across the board; Dow, S&P 500 and Nasdaq besides a slew of other indexes as well. This time the rationale is that interest rates will be on the rise, consumer spending is “healthy”, and higher mortgage rates “may impart some restraint” on the economy! At other times these nuggets would cause the markets to swoon, but we all know that in the short term psychology drives the market and then lets fundamentals 1) catch up, or 2) let it know it had stinkin’ thinkin’ all along.
But the tale of the ticker says up and away. The momentum is impressive and perhaps exhausting, with the Dow up nearly 2,600 points since election day.
By the way, in the spirit of a heart-felt holiday, let someone know today that they are very special to you. My father had a saying that, “I need not only to be loved but to be told that I am loved … the realm of silence is long enough beyond the grave.”
Happy Valentine’s Day. You are very special. Remember that! And you gotta have heart!
The Light moves from Yellow to Green.