Lions and friends…
As you know, I am taking off today Monday July 3rd from doing video blog(s) as this is a shortened trading day. Tomorrow, Tuesday July 4th, I will do a Markets A Look Ahead segment.
As I am writing this, the 10 year yield is sitting at 3.78 with the DXY flat.
The MMRI has dropped to 241.6
This mechanism as of late has become a phenomenon…
The moment that risk in this market pushes the MMRI close to 250, BAM! All of a sudden some entity with enough firepower to buy enough debt to push the 10 year yield down starts buying more debt- and subsequently stocks gain.
On top of this, every single piece of bad economic news (and it just does not stop) is pushing more cash into stocks. This is another phenomenon which we have seen for YEARS now. The market believing that despite all the rhetoric, the Fed. will continue to pump up stocks by keeping rates suppressed.
See you all tomorrow!
Have a Fantastic day!
And a HUGE shout out to those who support my work! I greatly appreciate you.
Much love,
Greg
Hi Greg! Imagine my shocked face! LOL! Have a great 4th of July!
Enjoy day off