A couple of minor technical problems called “business” and “life” have now intruded on my increasingly bogged down publication schedule that, in the interest...
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Listening to the mainstream financial informercial media, it’s evident that the Fed has put the word out to expect a cut tomorrow, but that this will be the last cut. The Fed is playing a cute game to make it appear that they are in control, when they aren’t, because they know that the money market will begin to tighten imminently. They have no choice but to let rates rise from here, although they may attempt to lean against the wind with heavy cash injections via Open Market Operations. Today’s big add may have been the first shot across the bow (details at end of report). But judging by the 44 basis point rise in the 13 week bill rate over the past two weeks, resistance will be futile. The little shake in the commodities markets today shows that they too have clearly taken notice. The worm has turned.
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