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Today:

10 yr T Bill = 3.42 %

3 month T Bil = 4.33%

SP 500 day after 0.5% rate hike to 4.25% to 4.5%....<99.57> to 3895.75

The inversion indicates that investors do not believe that the economy can be turned around by the FED..After not being able to turn things around for over a decade people are finially giving up on the FED and are criticizing it's every move. The requisite that I outlined in Sept 2012 was that so long as the FED maintained credibility Equities and the economy would hold together..now the length of time where things have not gotten better has created a fatigue..reflected by dissatisfaction of the FEDs job performance. Trending is the hopelessness of despair that the malaise will ever be rectified or alleviated.

Retail sales were down 0.6% in November
Mfg order are continuing to decline in December even though inflation is abating.

In spite of declining prices (one would think because of Demand Destruction) retail sales have not picked up.


Hey ifn you want a pair of Allen Edmonds and can not afford the $400 price tag...I can fix you up with a nice pair of used Edmonds that will serve you well for a price you can afford .