No, your eyes are not playing tricks on you, this really is not a photo of Janet Yellen.
At the conclucion of Yesterday’s Open Market Commitee meeting, the Fed Chair, Janet Yellen, said that although inflation has increased somewhat throughout the year, she’d like to see further evidence of economic progress before raising interest rates. So we’ve got that going for us, which is nice.
Mortgage Bonds are continuing to trade right around the 200 day moving average, the arbitrary line on the chart denoting mediocracy. My guess is that that will hold true through the election and then all hell will break loose to one side or another.
Stocks are up today for the first time in over a week. Yesterday was the seventh straight day that the stock market lost value, which is the first time that has happened in seven years. And speaking of things that haven’t happened in years, the Cubs won the World Series last night (in baseball, not poker) in a spectacular 10-inning, seventh game. It’s the Cub’s first title in 108 years. So we’ve got that going for us too, which is also nice. (Incidentally, that quote is from Bill Murray, the nototious Cubs fan, who played Carl Spackler, pictured above, in Caddyshack).