Just keep buying iPhones 'Murica...
Nasdaq underperformed intraday thanks to APPL's disappointing move, but ripped back into the close - S&P, Dow, and Nasdaq at record highs, (even with Dow hit by MCD and AAPL)
Authored by Simon Black via SovereignMan.com,
Late yesterday afternoon the federal government of the United States announced that the national debt had finally breached the inevitable $20 trillion mark.
This was a long time coming. It should have happened back in March, except that a new debt ceiling was put in place, freezing the national debt.
For the last six months it was essentially illegal for the government to increase the debt.
Monday saw US equities ramp exuberantly on the back of a one-way street in USDJPY as the narrative proclaimed that "the world didn't end" and therefore we should buy stocks. There's just one thing...
The biggest bond ETF in the world saw the biggest inflow of funds in its history at the same time.
In fact, TLT - BlackRock's 20+ Year Treasury Bond ETF has seen no outflows for 12 days.
Authored by Charles Hugh Smith via OfTwoMinds blog,
Housing markets are one itsy-bitsy recession away from a collapse in domestic and foreign demand by marginal buyers.
Authored by Lance Roberts via RealInvestmentAdvice.com,
In this past weekend’s newsletter. I discussed the potential for the market to hit new highs. To wit: