The beginning of the year is always a good time to take personal inventory. I’m not just talking about going over one’s portfolio, net worth, and asset allocation model.
Treasury Secretary Steven Mnuchin is apparently not big on being discrete. In the past few days, he decided to make sure the dippers have been changed for America’s largest bank CEOs, calling all six of them to make sure we don’t have another 2008 on our hands.
The markets are so close to falling below support that the possibility of another excruciating 10% correction must be considered and braced for.
Since the September highs, shareholders of the FAANG stocks have lost, collectively, over $1T of equity, but this might only be the beginning.
We will cover the results of the midterm elections and their impact on stocks, bonds, and commodities this coming Thursday, but one, critical and very determining new trend is already in place, no matter who takes control of the house