Fake Week and 6.66

Last week was a crazy week because Hurricane Ian hit so close, and Naples took a punch. We had a lot of damage but nothing like Fort Myers and points north but still enough to knock out a lot of people.

Send your emotional support and what you can to those in the Fort Myers area who have lost everything.

Last week was spent with a knife cutter, hammer and claw bar pulling drywall at my house – so I didn’t have time to really analyze the markets movements or rationale. I just saw the end of day movement.

The first two days of the quarter looked like a huge party – everybody forgot any previous bad news. Then mid-week, on some arguably good numbers, it got all pulled back.

This isn’t a balanced market.

The same geo-political issues remain. The same macro issues and now the 30-year rate is over 6.5% and ended ominously at 6.66%.