April 6th, 2012
Last modified on 2012-04-06 14:01:36 GMT. 0 comments. Top.Here’s the news of the week – and how we see it here at McAlvany Wealth Management:
Why Is a Raven Like a Writing Desk? (Recalling Alice in Wonderland.)
As with the famous riddle, one would have difficulty deciphering the markets as of late. Bad news has been ignored, good news has been taken at face value, and possible outcomes to the election – a constant debate – have all been seemingly “spun” to the benefit of the bulls. However, upon the release of the Fed minutes on Tuesday, the aforementioned shenanigans came to a halt. “QE,” according to the text, will not be forthcoming unless the economy “falters.”

US economic data actually looked fair this week, at least on the surface. Regardless, it played second fiddle to the Fed’s reluctance to print. Of note: Domestic Vehicle Sales were up 11.5% year over year, but off from February to March by 5.2%. ADP employment and jobless claims data showed marginally better numbers for March (but is certainly losing the momentum derived from the holidays), while manufacturing and factory order data came in as expected (showing only slight improvements).
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