Without any fresh news, we are left with some odds and ends on fundamentals.
One thing is for certain, since today Senate Democrats went "nuclear" concerning the filibustering of all but Supreme Court nominees, Janet Yellen is a lock to be approved as the next leader of the Fed.
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We are indeed entering the season of "No Fresh News." The holidays are notorious for it. Of course, we will have labor reports, and we will face the fed music in December regarding tapering.
In general, people around the globe slow down at this time of year. Yet there are tidbits we can pop into our brains and consider.
Janet Yellen is all but confirmed as the new Fed head unless there is a right-wing Kamikaze strike in the Senate. Her presence not only signals a continuation of Ben Bernanke's policies but may very well signal an enhancement of his policies. Or, we may see something... Read more