The Traderszone Network

Stocks and Treasury yields plunged Wednesday after an early indicator suggested the services sector had a surprisingly weak February.
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Just at the market began its torrid ramp higher today at 11:15 am on the dot, something else was expected to happen: the Fed’s open market buying, or POMO, of Agency MBS (yes, those still continue despite the end of QE because the Fed has to keep the level of its balance sheet flat and offset maturities).

Only today this did not happen. Instead, this is what the NY Fed said:

Wed, February, 24, 2016

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Investors may be taking profits on the heels of strong top- and bottom-line results.

Marathon Ventures is recalling seven brands of packaged raw macadamia nuts that may have been contaminated with Salmonella.

European stock market close 24 February 2016
– FTSE -1.7%
– Cac -2.2%
– Dax -2.8%
– Ibex -3.7%
– FTSE Mib -2.6%
European bonds
– Italy 1.53% flat
– Spain 1.62% -1bp
It’s not going to be long before we’ll be paying Germany for the pleasure of borrowing our money for 10 years much like their shorter dated stuff.

Google’s robotics arm has a new version of its Atlas robot. It opens doors and picks up boxes.

One of the most anticipated quarterly events is when Berkshire Hathaway discloses is holdings, and in its most recent disclosure, we saw that Kinder Morgan was added to the portfolio.