“Significant” was the word of the day. As in “significant downside risks to the economic outlook.” The day was not, however, sponsored by any letter and number.
If you plan on refinancing a mortgage, yes it’s still a good idea, and yes you will have all kinds of time to do it. With 15 year and 30 year rates easily falling to and possibly below 3% and 4%, respectively, for the foreseeable future.
“Operation Twist” or “The Twist” if it hasn’t already, should make Chubby Checker more money this week than he made on the first two versions of the song. It was the most played songs rolling into and out of commercials on CNBC. Got to love free advertising.
Europe is still trying to figure out if Greece will be allowed to play in their sandbox.
The one ray of good news, new home sales were better than expected. The market acted as if it never happened.
And lastly, Apple unofficially announced the new IPhone will be out in October, which was largely drowned out by the Fed meeting.
Just My Opinion
The market has made it’s mind up about the announcement and it wasn’t good. But I’m not so sure it’s quite as bad as the market made it out to be. I’m not saying it was rosy, but I think the market overreacted. Continue Reading…