Market not even following Fed anymore....

scott

http://www.zerohedge.com/news/2013-06-17/ft-joins-fray-fed-likely-signal-tapering-move

...Instead following more closely journalists who are spouting rumors and predictions (and possible leaks, especially in regards to WSJ's Hilsenrath) regarding what the Fed might do. Market -125 in less than an hour because of some FT article.

One article telling investors not to worry and that Fed will not taper anytime soon and then another one a couple of days later noting the opposite.

Edited to add: journalist from FT now tweeting about how people need to "calm down" and clarifying his opinion.

TSP_Transfer

First you say yes,then you say no!
http://www.bloomberg.com/news/2013-06-16/end-of-easing-spurs-s-p-500-gains-of-16-amid-economic-expansion.html

Mark

Yes, a ridiculous reaction to an ill-informed opinion piece.

Hogan

Are these leaks all trying to bake in expectations? We shall see. The most difficult thing the fed has to do has not been done yet (taper). As many have stated in other posts we are in uncharted waters. We need the private sector lending and innovating in a more sustainable fashion. At least we will begin tapering with the economy in a position of realtive strength rather than trying to jump start the economy that is barely functioning.

hank

Gets kinda boring watching money grow. Gotta have something to jabber about or write copy on. Fed makes good fodder - being highly visible and with Bernanke at close to celebrity status. Over the long term they exert considerable influence on the economy's health. Short-term they're pretty irrelevant. Doubtful any here base investment decisions on the next contemplated Fed move.

The cataclysmic events of '08-'09 thrust them into the limelight. ("In case of emergency, break glass and pull out Fed"). But, we may recall quieter days when their pronouncements served merely to nudge over-night bank lending rates up to 5.25 or down to 4.75.

catch22

"A listener called in with this request; and so, a special dedication goes out tonight. A song for the markets and investors."

UNDECIDED youtube.com/watch?v=O8XRpclHDQI

First you say you do, and then you don't,
And then you say you will, and then you won't;
You're undecided now, so what are you gonna do?

Now you want to play, and then it's no,
And when you say you'll stay, that's when you go -
You're undecided now, so what are you gonna do?

I've been sittin' on a fence, and it doesn't make much sense,
'Cause you keep me in suspense, and you know it.
You promise to return; when you don't I really burn,
Well, I guess I'll never learn, and I show it!

If you got a heart, and if you're kind,
Then don't keep us apart, make up your mind.
You're undecided now, so what are you gonna do?

First you say you do, and then you don't, no, you don't,
And then you say you will, and then you won't, no you won't -
You're undecided now, so what are you gonna do?

Now you want to play, and then it's no, then it's no,
And when you say you'll stay, that's when you go, when you go -
You're undecided now, so what are you gonna do?

If you got a heart, and if you're kind,
Then don't keep us apart, make up your mind.
You're undecided now, so what are you gonna do?

You say it's yes, and then it's no;
You say you'll stay, and then you go -
You're undecided now, so what are you gonna do?

TSP_Transfer

Reply to @catch22:
That's as good as gets Catch! Great post.I had the song in my mind with my post.You nailed it!

hank

Reply to @catch22: Great audio. Wonderif can get that on a 8-track somewhere?

TSP_Transfer

Hello Janet?
http://www.reuters.com/article/2013/06/18/us-usa-obama-bernanke-idUSBRE95H02420130618?feedType=RSS&feedName=businessNews

hank

Sounds like Ben just got his walking papers from the top brass. Curious how he responds today to what are certain to be questions about his future intentions - And how they calibrate the response to avoid possibly rattling the markets.

Then again - It's hard to think their statement overall will contain much that's unfriendly to the markets. Save that for another time.