How many different items can the Bernanke Fed control? One is doable, two presents problems, and three is close to impossible. One is the dollar, two is the bond market, and three is gold. But wait, there is a fourth, and it's the rate of inflation, and yee gads, there is a fifth, the employment rate. No wonder Ben Bernanke thinks wistfully about his pleasurable days as a professor at Princeton.
Below we see the US dollar, and I'll be darned, it appears to be breaking down.
Next, we see the bellwether 10- year T bond -- going down despite the Fed's massive purchases of bonds.
Finally, gold with ascending low points and then a gradual lifting trend.
Below we see the Advance-Decline line for the NYSE. Despite yesterday's positive breadth, the A-D line does not look as though it is ready to confirm a new Dow high.
The Fed thought it could jump-start housing. But ... Log in or subscribe to continue reading.
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