The market is rallying because Summers, who was probably the very worst pick for new Fed chairman in the history of Fed chair candidates, is out. Most are assuming Janet Yellen will be the next Fed chair, buttressed by the liberal tag line–“she is a woman.”
First of all, what sort of man picks an ultra-political guy, like Summers, to head up a non-partisan arm of the government? The answer to that question is an ideologue.
Don’t be surprised if Obama picks someone else to head the chair, someone retarded like Kohn or worse Stanley Fischer.
I am pleased to see the futs roar and I will most certainly take this opportunity to lighten up and book more profits. But, having said that, I do not believe this is a sound reason to rally 200 points.
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I like Stanley Fischer. You have experience in Israel, you have experience weathering any type of storm.
No way.
I don’t want anyone who knows Summers.
Yea, looks like a double top in the making. No doubt market players are gambling here on these 2 news items.
Sipping tea, enjoying the light breeze in the air this morning. Ahhhh, it’s good to be a bull in a bull market.
What do you suppose the exchange was between those two in the picture?
“you shook it more than twice, didn’t you?”
“did you smell the load I left in there?”
what about a reconciliation between the O and the bearded clam?
This is the catalyst for the seasonal rally in treasuries
If that’s the case, the high beta play are beaten down REITs and housing plays.