Market Tantrum
Do we need Powell to cut or not
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Last Week: Toughest week of the year with everything going on while we are in election season.
Challenge Account: No changes, still in a swing trade.
2k to 1.2k (down from 4.7k portfolio high)
Relevant Topics, News, and Data:
Monday: Services/Non-Manf. data
Tuesday: Fednow GDP, 3Y auction
Wednesday: 10Y auction, Consumer Credit
Thursday: 30Y auction, Jobless Claims
Buffett Sells AAPL
Labor Market Data comes in hot
Yields Plummet
Trump wining odds drop hand in hand with the SPY SPX
Morgan Stanley can recommend BTC products to clients
3 rate cuts priced in by December
Recession indicators fire off
Like I said, last week was the biggest week of the year. Now we have a market throwing a tantrum after the labor market data on Friday. These market events are massive money makers that can be played on the buy side or sell side. My plan is to play the buy side.
The big question is; Do we need Powell to cut rates to stop the panic? Or can the markets settle down on its own. Fednow GDP on Tuesday will be key to see how the economy is doing relative to these possible three rate cuts.
I personally do not care how this plays out. The treasury portfolio is doing well and will continue to perform if we get continued market tantrum.
Time to get ready and set for the rest of 2024.