Post by
DZtrader on Aug 05, 2024 8:37am
What a day for CAD markets to be closed
Sounds crazy but would prefer CAD markets to be open today and take this punch. Yes the carry trade along with Tech is being unwound. Market screaming for emergency Fed cut which won't happen in my opinion. As noted earlier,far be it for markets to get ahead of themselves. Screaming WILL get louder though. All that (hard to have kept) dry powder smiling back right now. Going to start dipping my toes into the long awaited carnage. Yeilds are dropping like a stone and yeild curve could uninvert today. I am curious to see how reits react. This amount of selling is going to sink most everything, question for reits how much how long. Glad to have held back Friday.
Comment by
Torontojay on Aug 05, 2024 9:08am
The Fed is not obligated to wait until September. They did the same right after the pandemic when they did an emergency rate cut prior to their next meeting.
Comment by
DZtrader on Aug 05, 2024 9:12am
Well aware of that thank you. Only thing is, stock market selling off is hardly an emergency. IF, the markets stop functioning that would be an emergency.