Yellen Rescues the Markets Again–From What?
By: Tim McPartland,
Well again the FED comes to the rescue of a market that does not need help. Honestly she is irritating us more and more. We think the market will take care of interest rates–and if they move slowly higher we are fine with that–in fact we wouldn’t mind being able to lock down some quality issues at higher yields. Oh well, nothing is likely to change so one just has to go with the flow.
All of our accounts performed nicely yesterday and most sectors were positive excepting the REITs which got absolutely hammered by 2%. Looking at the REITs today they are trying to move a little higher, but most issues are moving just a nickel or dime. Not exactly sure what is happening with the REITs as interest rates have moved lower on the Yellen balony.
We will just be hanging around the markets–not doing much activity wise. We will wrap up February performance on Friday and we are very happy where we are after 2 months.