Fairy Tales Can Come True

(1) The Godmother who keeps on giving. (2) Sayings of market sages. (3) From “Don’t fight the Fed” to “Don’t fight the market.” (4) With all due modesty, we did nail latest FOMC meeting. (5) Very dovish Fed weakens dollar and lowers bonds yields, while boosting stocks and commodities. (6) Only one member of FOMC remains data dependent. (7) Yellen sees slack in labor market and “room for improvement.” (8) The Phillips Curve has flattened. (9) Yellen on inflation: Overshoots can happen. (10) Giving more weight to dollar and foreign economies. (11) No NIRP. (12) “Remember” (+ +).