Checking out some of the markets and indicators around the place.
Oil prices coming off a bit. I’ve been a bit of a dog with a bone on this, but, as some of the better blogs out there have said, the best cure for high prices is high prices, and this seems to be playing out. Lets see how the declining price of gasoline impacts on the US consumer & their confidence.
China … so many conflicting views, both perma bears and perma bulls have axes to grind and are loud in their prognostications. The Chinese authorities have been activist in tightening policy there, in numerous ways. Such activism might hurt in the short-run but is necessary, the big fear is a hard landing there and what that means globally. I am inclined to thinking there wont be a hard landing. We’ll see.
US labour market. Awful figures recently. I have seen it reported that this is due to early lay-offs in the auto industry due to supply disruptions. I first saw this on the Califia Beach Pundit blog, and its an explanation that makes sense to me. But, this may be me seeking confirmation of my optimistic bias.
Lots of other cross-currents.
Its a great (short-term) trader’s market.