All three major US indices appear to be fluctuating this morning (PST) while I write this blog. Perhaps this is because investors are still trying to gauge if 0.5% interest rate hike in this month's FOMC meeting is priced in yet. Today, bond yields seemed to have climbed again. Chinese PMI rose. US manufacturing seems to have contracted in February. Signs are still mixed and some Feds have commented that they are open to higher magnitude of rate hike (perhaps the debate will be between 0.25% or 0.5%). I think the markets will price in 0.5% rate hike well before the meeting and until that happens, we might continue to see fluctuations based on the macroeconomic news.
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