Slow Death By Pig

The relentless rise since the FOMC is taking its toll.

27
Mon, Feb 11, 2019 - 9:45am

I had hoped that a return of Chinese markets would help to reverse the non-stop uptrend that The Pig (POSX) has sustained ever since the FOMC two weeks ago. Nope. At least not today.

We discussed this relentless bid for The Pig last week and it's actually quite curious. In a small way, it reminds me of the general reaction to QE3. The Fed capitulated with another $1T of

QE in October of 2012 but The Pig then actually ROSE as other fiat fell quicker and the POSX rallied. Was this blatant currency manipulation back then? Is this blatant currency manipulation now?...

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Key Economic Events Week of 2/18

2/20 2:00 ET January FOMC Minutes
2/21 8:30 ET Dec Durable Goods and Capital Equipment
2/21 8:30 ET Feb Philly Fed
2/21 9:45 ET Markit Manu and Svcs PMIs
2/21 10:00 ET Jan Existing Home Sales
2/22 Day long Fed Goon appearance at Chicago Booth Policy Forum

Key Economic Events Week of 2/11

2/12 12:45 ET GCP speaks
2/13 8:30 ET CPI and three Goon speeches
2/14 8:30 ET Retail Sales (December)
2/14 8:30 ET PPI
2/15 8:30 ET Import Price Index
2/15 9:15 ET Cap. Util. & Ind. Prod.

Key Economic Events Week of 2/4

2/5 8:30 ET Trade Balance
2/5 9:45 ET Service PMIs
2/5 9:00 pm ET Trump SOTU
2/6 8:30 ET Productivity and Unit Labor Costs
2/6 7:00 pm ET CGP speech
2/7 9:30 ET Goon Clarida speech
2/8 10:00 ET Wholesale Inventories

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