Good AM on this best day of the week: Wednesday,
Trading has thinned (like my hair) considerably but there is still some activity going on (like my hair). Today is the news day of the week and it has been mixed, stronger Consumer Sentiment, stronger Durable Goods, Bank of New Zealand increased their funds rate by .75 (first time ever) and Unemployment Claims jumped up higher than expected. Trading desks are largely unmanned, and markets are calm to slightly improved.
We have one more shoe to drop in about half an hour when the minutes of the last Fed meeting are released. We will see if any, or how many, Fed officials realize we are approaching the time to pause. Pricing is conservative today going into the holiday and weekend.
I would like to wish you a very happy Thanksgiving.
Please remain safe and stay healthy, make today great!