I honestly have no idea about the representation of this photo, so if you can shed any light onto the subject, please share. I chose the image because of the number 63. There’s nothing inherently special about the number 63, which is why when you google it, some pretty random images pop up. The number 63 is significant today because it’s the percent chance that the Federal Open Market Committee has of raising rates at their meeting help December 13-14. The last time I looked, that number was only like 18. So the markets are bracing for higher interest rates ahead. The Fed is also meeting on the 1st of November, but nobody seems to want to talk about that meeting–November has bigger problems. But back to the Fed, the minutes from last month’s meeting will be released early this afternoon.
With no economic reports out again today and the mortgage coupons trading under the ceiling of resistance created by the recent historical (somewhat of a paradoxical statement) floor of support, as well as falling below the 100 day moving average, it looks like higher interest rates are already upon us. That is, unless another country has a total meltdown sometime soon. That’s bound to happen sooner rather than later and it could be the U.S., but I am really hoping it’s someone else. Let’s root for Greece or Italy.