This is going to be a December to remember. Yes, this is it! Finally, just like “everyone” predicted, interest rates will rise in 2015. December 2015. Glad we are on track to meet the “duedate” – if only just. 🙂 Today’s business day will evolve around what happened last “Thanksgiving weekend” which, I heard was “in-line” with expectations, I was scouring for news and there isn’t much about it. I guess we haven’t got bad sales for it to be headline-worthy. So we’ve jumped past Thanksgiving and we’re faced with a heavy week of economic reporting events. Here are some of the major economic events:
Monday – International Monetary Fund will decide whether to grant China’s yuan status as a reserve currency. This is a BIG deal but somehow has quietly slipped past media. (You’d think it’s a done deal?)
Tuesday – ISM Manufacturing
Wednesday – US Fed Chair Janet Yellen starts her testimony in Congress (2 days) as well as Beige Book being released
Thursday – Jobless
Friday – Employment situation
Plus we have ECB’s monetary-policy decision on Thursday, widely anticipated as an event supportive to the European economy and by extension, to the stockmarket. US economy I think is perceived to be strong enough to withstand that first rate increase, and whatever turbulence from China or the bullish US dollar. Good news all-around. Naturally, I’m getting “high”.