Janet Yellen predicts interest rates will rise! Immediately reverses herself on the same day…LOL

https://www.zerohedge.com/markets/stocks-extend-losses-after-yellen-says-rates-will-have-rise Update (1315ET): Just as we predicted – but even sooner than we expected – Treasury Secretary Janet Yellen has not just walked back her earlier statement but has entirely reversed it. “Let me be clear it’s not something I’m …

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Lumber Blowoff and Falling Open Interest

by Tom McClellan The lumber futures market is a pretty thin market, with only around 3,000 contracts open.  Compare that to the eMini SP500 futures contract, which has 2.6 million contracts open.  In lumber futures, a single small order can move …

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Low Interest Rates Might Be What’s Hurting Growth: Cheap credit does a poor job of weeding out zombie companies that compete for scarce resources.

Economists tend to think of central-bank interest rates purely in terms of their effect on macroeconomic benchmarks such as inflation, output and unemployment. The Federal Reserve’s dual mandate, for instance, directs it to seek stable prices and maximum employment. Mainstream macroeconomic …

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