Investors continue to cheer
the presumptive Fed nominee Janet Yellen by pushing stocks up yet again. Speculation about continued easy money
policies has trumped mildly negative economic data and indexes are higher in
early action. The Empire State Index, a
widely followed measure of economic activity, was down and other figures
relating to industrial activity were mildly disappointing. It seems there is no stopping this upward
momentum. Oil and gold are up slightly
and interest rates are stable. The
thirty year mortgage rate has been steadily climbing and now sits at about
4.35%. Momentum is a fickle thing and
can turn quickly. Now might be a good
time to lock in profits.
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