Equities couldn’t make a stand at all today – each small rally brought more sellers out–I guess tough talk from Powell (although expected) put a little fear into folks.
Interest rates didn’t take a breather either–stuck at 4.48% all day long–it wasn’t helpful that 1st time unemployment claims were quite a bit fewer than expected.
I did weight in on a 5.70% CD (1 year) today–seems like these are going to go higher from here. The higher rates go the more competition will be for the individual investor money for certain.
My accounts were all RED today–no surprise, but the dollar value of the RED issues wasn’t too bad – given the level of treasury bills and CDs in the account the spanking is fairly mild.
So we will have to see if the market follows through tomorrow or not–my guess it will be a soft open and then bounces. We’ll see!