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FOMC Meeting Minutes Get Tame Reaction

Well we had the FOMC meeting minutes just a bit ago and nlike many times in the past equities didn’t reaction too much–off a little bit at first and then back about to where things started. The minutes still warned the Fed was ready to act, but needed to go forward carefully. Higher for longer was still a theme–seems to me the policy is about right now until we get more data.

The 10 year which had drifted below 4.40% popped back up to 4.44% now. I highly suspect we will be in a tighter range until we get some new data on employment and inflation. Much of the data has shown some softening–but nothing that anyone is taking too seriously–certainly not common stock buyers.

As I mentioned I have done nothing–of course I am now back to having minimal ‘dry powder’ until December when I have more CDs mature so at this stage I would have to sell something to buy other securities. Right now I am pretty well positioned for my risk/reward mindset.

I continue to update my ‘laundry list’ of holdings–it is quite a collection of oddball cats and dogs.

One thought on “FOMC Meeting Minutes Get Tame Reaction”

  1. The streets were empty today, everyone is at the airport or on the road. The ski slopes at Tahoe have maybe one run open. The phones have died. I expect what is left of the week for the market to be low volume and just drifting. Unless there’s a news breaking event by the talking heads I will just have to wait for next week. If the market had a large move up or down this week I would expect the market to continue in the same direction on Monday.
    I have little unencumbered funds. I am trying to be patient waiting for GTC bids to hit. Always the fear that the market might up and leave me behind. Frigeting wanting to do something. I may move some funds out of the ultra short term Treasury mm fund. I found a Company that is getting bought out that has a preferred that will be called with 1 qtrs possibly 2 qtrs worth of dividend at 7% just to park the money.

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