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It's a very weird market right now. I suppose traders think the market got too oversold, but that is kind of hard to justify in a 4 month period where the Fed raised rates 2.5 basis points.
It feels like if there is going to be economic slowdown it's going to have to be catastrophic or nothing. Consumers aren't letting up until they are totally out of money. Until then they seem prepared to let demand rule the day, and that is bad news on inflation. I mean we even have mortgage rates doubling in 6 months and the housing market is barely easing up.
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