That’s right… ‘Fecstasy’ is our combination term for ‘Fed’ and ‘ecstasy’, which seemed to grip the U.S. equities market after Wednesday afternoon’s FOMC announcement and follow up Chair Yellen press conference.
Since Wednesday morning’s very much stronger than expected U.S. ADP February Employment report there has been a battle in the U.S. equities between that and some key less than bullish factors. Even prior to that release there was Tuesday morning’s Organization for Economic Cooperation and Development major semiannual Interim Economic Outlook. It seemed less upbeat than their recent monthly Composite Leading Indicators might have suggested.
The recent antics of the Senate Democrats add to the previous anti-Trump actions that seemed rather pointless and might be more than a bit self-destructive. It is of course not just them. As noted in our Jan. 23, “Kool-Aid crisis” in America post, the degree of commitment to their own agenda and philosophy by each side of the U.S. political divide leaves it less than possible to achieve any real synergistic dialog and constructive result. Years have turned into over a decade of substandard leadership in the United States on the back of aggressive and highly divergent views of America’s role…and each side is dead sure it’s right and the other side has nothing to offer.
Global economic growth will flounder this year and next at rates not seen since the financial crisis as the march of globalization grinds to a halt, the OECD warned on Wednesday.

 A mixed set of rules internationally and low fines in some countries mean that bribery often pays off for companies even when they get caught, inter-governmental think-tank, the OECD, said on

Signs are emerging that a downturn in the United States and China, the world's two biggest economies, may have bottomed out, the OECD's monthly leading indicator showed on Wednesday.

The big OPEC meeting is about to start and already comments from OPEC leaders is impacting crude oil prices. Yet it might be a warning from the OECD that may actually have more influence on the oil trade today.

There is the notable exception of some bright spots in the U.S. economic data.

The OECD has cut its global economic growth forecast for this year but says it expects lower oil prices to ensure a gradual recovery, even if weak inve

Dubai laid plans to implement a new system where retailers will have to ensure traded gold is only obtained officially.