The FED released the minutes of the last FOMC meeting and there was very little that hadn’t already been revealed and digested by the market. In tonight’s reading, some in the media are trying to raise an issue that there is a rift between voting members. Readers of the NOTES will know the answer: There is no rift. Yes, between meetings there is a plethora of dissenting speeches but as the FOMC MINUTES are clear to record, the vote to stay the present course was unanimous. The thing that seems the most transitory to the FED is the lack of dissension when gathered at the same table. To paraphrase PUDD’NHEAD WILSON, WHEN ALL THE EGGHEADS ARE IN ONE ROOM, WATCH THE ROOM CLOSELY.
Posts Tagged ‘2-year Treasury Note’
Notes From Underground: The Chines raise interest rates and the GOLD makes all-time highs climbing a GREAT WALL OF WORRY
April 5, 2011Notes From Underground: Markets Still On Holiday and Equities Party On
January 3, 2011Many nations were still out today on banking holidays. The equity markets resumed their rally as U.S. investors clamored for stocks, especially for the high-quality, high-dividend yielders. Investors were caught off guard by the tax compromise between Obama and the Republicans. In the third quarter, many investors sold off the high-dividend-paying stocks as there was legitimate fear that Obama’s team would prevail in increasing the tax on dividends to 35-plus percent. When the Republicans gained control of the House and Obama looked for compromise with the new majority, the Pelosi crowd was forced to swallow their disdain for all things capital and fall in line with a chastened Obama economic team.