To buy stocks just because it's the end of the year is not a good reason to do it when the fundamentals indicate otherwise. The yield curve is flattening in response to the slowing housing market. The implications can't be ignored. That's why we're trading the way we are.
More Quotes from Peter Boockvar:
The jobs number coming in better certainly was a help.Peter Boockvar
It may just be some pre-Fed asset allocation or positioning. I haven't seen any news to account for this.
Peter Boockvar
It all depends on whether we go down the unilateral path or the multilateral one. If the U.S. goes to war alone, they're going to smash this market. If we get a resolution passed we're going to see a nice rally.
Peter Boockvar
This is before the hurricane and does not influence what the Fed is going to do, and CPI is more relevant to the markets.
Peter Boockvar
The main focus is earnings and where do long-term interest rates go from here.
Peter Boockvar
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