It's been quite a tumultuous week in the markets, as we all know, but something seems amiss.....on Thursday when the Bank of England's Mark Carney talked about raising rates faster than expected, the pound popped (as one would expect) but it did not take even a few hours for it to completely reverse trend as if nothing happened, and the USD was back to being strong again. The speed of reversal was quite strange!
The outstanding performance for equities which sent many major indices to record highs may have just paused. Asian stocks were trading broadly lower on Thursday after the markets notched its first daily decline in 2018./ It was neither economic data nor earnings that prompted the declines, but rather the selloff in U.S. Treasuries which sent 10-year yields to a 10-month high.
This couldn’t possibly be good for business. We are coming to the point where this group is going to boycott those products and that group is going to boycott these products. I heard Maria Bartiromo say with the decrease in ratings, the advertisers will be paying out less. That’s just the start of it because the horses really got out of the barn yesterday.