A White Knuckle Ride To A Small Gain

This week’s Market Update is posted at Alpha Baskets and includes the following:

Getting much of the blame for the volatility is China, especially if you read the current issue of Barron’s. Like any market, there is both a bull case and a bear case but clearly Chinese officials feel compelled to try to prop up their market with things like bans on insider selling, having a heavy hand in the currency markets and the promise of institutional purchases of equities yet to come.

The equity volatility brought the Fed into play (kept it play?) as William Dudley from the New York Fed noted the case for a September hike was less compelling but Fed Vice Chair Stanley Fischer said it  too soon to tell. The GDP report was revised to 3.7% well ahead of the 3.2% estimate. If the Fed does hike in September then the 3.7% number will likely be cited as part of the justification.

Please click through for the entire update.

Neat signage in East Glacier, MT.

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