sellside observations on a very solemn day of remembrance ...
Good afternoon … Today is a solemn day of remembrance and there are many stories floating around of this day in history. Tales of heroism and every day thanks for simply living to tell their tale.
Everyone can remember where they were on this day, 21yrs ago.
It is MY generations JFK or John Lennon moment.
It is a day I’ll never forget for my own, personal reasons. These are not worth sharing and truth is, there were lots of heroes as well as scars, left behind. Many of which have yet to heal.
There are some common feelings towards of those who we lost and our nations bravest service men and women. The stark difference IS most of those folks who perished, did not sign up for and commit TO protecting and serving our country.
They had NO idea … It was simply a beautiful day in the neighborhood.
Yet, all gave some (in the aftermath) and far too many gave ALL …
I’ve not got any stories to tell but instead I’m grateful I don’t. Things happen for a reason I’m going to live each day to find and appreciate every moment…the good ones and the, lets be realistic, the somewhat LESS good ones.
There ARE stories of true heroes out there and if looking for inspiration on this day, feel free to Google search “Let’s Roll” (the Todd Beamer story can be VIEWED HERE).
I am grateful I got the chance to discuss this one earlier today with my 18yr and 13yr old as we were in the car zippin’ around doing some errands earlier today.
Forgive me if I’m somewhat unimitated at the moment as far as whatever it is Global Wall Street is saying and selling this weekend.
HERE are a few weekly sellside oberservations compiled for your consumption.
Here are a few other items / things / LINKS to things which you might want to consider ahead of this evenings markets open and as you plan your trades and trade your plans …
CLARIDA-fication of upcoming Fed policy on CNBC Friday morning
Fed will raise interest rates to 4% ‘hell or high water,’ says former Fed Vice Chair Clarida
Are assets and curves priced right? Depends on YOUR view (and P&L).
Perhaps they — ASSETS — are adjusting. You know. Repricing? ZH,
Changing topics — as to WHY assets may be repricing, perhaps it’s pace of change of REALZ? From BBG,
The weekly fix: the rate-hike elephants are taking over the room
… Global bonds extended this year’s rout as a result, with Europe a particular laggard as the ECB removed a cap on how much interest government deposits can earn, seeing as rates are now above zero for the first time in a decade. A slew of yields popped to fresh highs, with the 30-year Treasuries rate reaching the most since 2014 and 10-year UK gilts surging past 3% to a decade-high. US benchmark real yields jumped to the highest since 2019 with the record pace of their increase piling the pressure on risky assets such as credit and stocks. The pain is even spreading to South Korea’s famously elite Gangam districts, with apartment prices there beginning to buckle.
The lingering concerns that rapid tightening will spur recessions did start to gain traction with some central bankers. The Reserve Bank of Australia hiked by half a point for a fourth-straight month early in the week, but a couple of days later Governor Philip Lowe signaled it may soon be time to slow down. And Poland already eased off to a quarter-point move as its economy sags. For now though, jumbo hikes remain the fashion, even as Fed researchers warned of the domestic and global damage the US central bank’s battle to tame inflation can do…
Just a thought. Freedom is NOT free and nothing — like the increase in yields — can happen without consequence.
ALSO from BBG a View,
No, older Americans are not quitting their jobs
The Olds Aren’t Quitting
Amid reports of Americans returning to work after the Covid hiatus, a trope has taken hold that older people are lagging behind. This stems from August data showing the labor-force participation rate for the 55-plus cohort was near its lowest level in 15 years. But Justin Fox, like me a member of that cohort, has run the rule over the numbers, and it turns out they’re deceptive.
For one thing, folks in their late 50s are participating at record rates.
For another, folks in the 60-64 cohort are participatin’ plenty; a recent slight dip can be attributed to seasonal hiring patterns.
So, should we blame the overall decline on the 65-and-over group? Yes, but. As Justin explains, that category is tiny, making up only 6.6% of the labor force. But the more salient (data)point is that there are far more Baby Boomers than Gen-Xers. This means as those in their 50s move up to the 60s, their ranks will be filled by a smaller cohort. As a result, with each passing year, the 55-plus labor-force participation rate will drop, even if the rates for every year of age within the group remain the same.
So, don’t be blaming me — or Justin. We’ve got our noses to the grindstone.
I know one thing for sure … I ain’t quittin’ …
AND for any / all (still)interested in trying to plan your trades and trade your plans in / around FUNduhMENTALs, here are a couple economic calendars and LINKS I used when I was closer to and IN ‘the game’.
First, this from the best in the strategy biz is a LINK thru TO this calendar,
Wells FARGOs version, if you prefer …
… and lets NOT forget EconOday links (among the best available and most useful IMO), GLOBALLY HERE and as far as US domestically (only) HERE …
And speaking of NOT EVER forgetting …
… THAT is all for now.