FYI: U.S. stocks inched lower, while the yield on benchmark 10-year Treasury notes fell. Traders seemed a bit distracted, with U.S. composite trading volumes finishing near the lowest of the year. Was it the dearth of real, market-moving news? The dismal Spring chill on Wall Street? Federal Reserve Vice Chairman Stanley Fischer, the central bank’s top lieutenant, said that when the Fed moves, it will ”be moving from an ultra-expansionary monetary policy to an extremely expansionary monetary policy.” Markets are in the middle of delicate, circular waltz: investors’ focus remains the Fed; stock and bond prices are under the spell of the dollar, whose moves are tied to potential Fed action; the Fed won’t act until it’s confident that a premature interest rate hike won’t upset economic conditions. Around, around we go.
Regards,
Ted
http://blogs.barrons.com/focusonfunds/2015/03/23/etf-market-vital-signs-march-23-a-circular-dance/tab/print/
