“Never predict anything, especially the future” – Casey Stengel
There are a lot of moving parts right now. For every article I read on the return of inflation I see one on the coming threat of deflation. Copper was limit down last night, but has stabilized, and gold continues to act well. China continues to get more attention and Russia is still ready to take over the world. It was the first two day losing streak for the $SPX in five weeks and folks are filled with fear and angst.
Last week, a privately held solar equipment producer in China missed an interest payment. This is the first payment default in China’s domestic bond market. Goldman is out saying this is a good thing because it will instill discipline in lenders going forward. Its all smoke and mirrors anyway.
Futures are lower here and I hope they tick lower so I can buy some things.
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