Sep. 15 at 11:04 PM
The market fell again Tuesday, down nearly a full 1% this week, as the ten year closed above 5%, and mortgage rates trended toward 7%. It’s rate day tomorrow, for those that celebrate, everyone and their brother expects poor Fed Chair Kevin Warsh to announce at least a 25 basis point hike, bringing the target Federal Funds rate up to 4% again.
The last time the ten-year hit 5%, the FOMC rates followed, but then the bond market bought up the dip big time, dropping the rate to 3.8 three months later. Of course, back then the U.S. was not at war with Iran that cost
$3B every month, nor in a trade war with everyone else, and oil supplies were not cut by bombings and mines hitting Gulf states.
In Washington, the Clarity Act failed yet again to pass a procedural vote in the Senate. Stocktwits heat clustered around
$COIN,
$CRCL,
$QXO,
$AMZN, and
$BMNR. Coinbase, Circle, and Amazon carried b…
Read tonight's Daily Rip:
https://thedailyrip.stocktwits.com/p/bitmine-and-crypto-do-not-look-clear
