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.