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Yellen Sinks Stocks, Craters Credit

Yellen Sinks Stocks, Craters Credit

Damn It, Janet!

Yellen’s testimony Wed. “was not dovish relative to market expectations,” and didn’t take March off table, Morgan Stanley strategists Matthew Hornbach, Chirag Mirani, Guneet Dhingra write in note.

 

She “qualified most of the downside risks to the economic outlook with a positive spin,” while implying that tighter financial conditions need to persist in order for Fed’s economic outlook to change

 

Could Gasoline Drop Below $1 Per Gallon?

Submitted by Charles Kennedy via OilPrice.com,

Retail gasoline prices have dipped below $2 per gallon across the United States. But gas might drop below $1 per gallon soon in some places of the country.

Aside from the financial crisis, when gasoline prices dropped below $2 per gallon for just a few months, retail gasoline prices have not been below $2 since 2004. Gas prices are at their lowest levels in many years.

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