Our Partners at Market News have an interesting tidbit from the economists at Goldman. Their view is that the US inventory cycle will not continue to boost GDP as it did in the fourth quarter of last year. The Fed should be able to keep rates low for a long time to come, as a result.
Stocks like low rates and are adding to recent gains, up 0.4% in early trade.
Modest position adjustment is underway in the forex market with Cable seeing a bit of profit-taking after stalling at 1.5380 earlier. The BIS was a rumored seller there, after buying the 1.5210 lows earlier…It trades now at 1.5320.