Neat, the day before TGIF we get Sure Happy It's Thursday! Metals sink into bases while stocks break out to new highs in mixed volume ("pressure" comes off and the rally resumes!).
Econ reports for everyone to ignore today:
8:30 AM Initial Claims
8:30 AM Continuing Claims
8:30 AM Philadelphia Fed
10:00 AM Philadelphia Fed
10:00 AM Leading Indicators
10:30 AM Natural Gas Inventories
Is it just me or is everyone talking about a letter than nobody can see? We're getting all kinds of reports that Yellen wrote a letter--
- Yellen's Letter to Paul Ryan Reveals Panic at Fed - Editorial, New York Sun
- The Yellen Letter
- Yellen: Fed bill would "severely damage" US
- Fed chair denounces proposed law as 'grave mistake'
- Fed Chairman Yellen Urges Congress to Reject Fed Reform Bill
- Yellen Opposes GOP Proposal to Boost Fed Oversight
--yet while everyone says what they say is is in it, nobody seems to be able to actually show the letter itself. Not even the Fed has any record of it. Kind of sounds like Obama's US citizenship...