Will they or won’t they? Last week, Federal Reserve Chair Yellen testified before the Senate Banking Committee the central bank’s plans to keep interest rates low for some time, yet minutes from the Fed’s January meeting reveal internal debate about whether the timetable to raise short-term rates should be sooner rather than later.
First of all, a belated happy St. Patrick’s Day. I don’t know about you, but I was eerily reminded of 2008, the last time St. Patty’s Day fell on a Monday, when markets managed through the news that J.P. Morgan paid $2 per share for Bear Stearns.
This past Tuesday, I enjoyed a wonderful journey across the country to Los Angeles, where sandwiched between the outbound and return flights was an enjoyable evening with some gracious folks from Royal Bank of Canada.
March has begun somewhat similar to January, with the S&P 500® Index (SPX) (Figure 1) entering the new month fresh from a new all-time high.
Past performance is not a guarantee of future results.
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