With markets awaiting the interest rate decision, here is what you need to know ahead of tomorrow’s Fed rate hike.
Here is what Peter Boockvar wrote today as the world awaits the next round of monetary madness:
The February NFIB small business optimism index moderated a touch to 105.3 from 105.9 in January and vs 105.8 in December. It still though is pretty much holding its gains post election where the October print was 94.9 and November saw 98.4. There is one very important component that has not seen any improvement and that is plans for Increased Capital Spending which stands at 26% vs 27% in January and 27% back in October. This number touched 40 multiple times in the late 1990’s and the mid 30’s in the mid 2000’s. Likely companies are still waiting for what the tax reform will look like or maybe with capacity utilization sitting at 75% vs the historical average of 80% we still have an easy money driven overcapacity overhang…
gold steady before Janet speaks......
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