Pinalto and Yellen
The Kirk Report comments on another Fed speech. I suggest that readers compare the news report or the full text with the analysis of Janet Yellen’s speech, one that was viewed so negatively as it unfolded. The two seem very similar, in line with what we have been suggesting about Fedspeak. Note the difference in the conclusion.
Link: Another Quiet Rally.
After Pianalto didn’t say anything surprising, the market managed another quiet rally. All is well that ends well I suppose. Things should begin to pick up even more next week with options expiration on Friday and some additional economic data…