Mortgage apps spike over NY's, but that hasn't helped futures waiting for Idiot second read same FOMC Notes.
Fed must put out a DVD version of its notes with alternate endings, how the "detail" in the age of scare tactic "transparency" tells anything different, when it hasn't for about five years now, BTSOOM, but see you at 2PM. The real surprise is mortgage app spike over the New Year week, a bunch of looky loo's used the Holiday, allegedly, to go do mortgages.
Can't wait for those increased mortgage rates which will smother the fledgling real estate recovery, sending the market down the toilet for the "healthy" 20% correction. Critical mass is about one percentage point away.
As I have stated two years ago, the merest hint of increasing interest rates, no matter what the source, will choke off the recovery. That, higher taxes on crapitall gains, Obunglecare, and a jobs recovery filled to the brim with part timers and Micky D jobs, and you have the makings of the next disaster.
Meantime, the lemmings follow the leader into equities, and metals suffer. See how that works?
The bulls at Pamploma may be mean and stupid, but when they run, I wouldn't get in their way.