The Market Strategy Radar Screen

It Ain’t Over ’til It’s Over The late Yogi Berra’s adage applies to economies and markets, as well as ballgames

As the nonfarm payroll number knocked the cover off the ball last Friday, we recall the adage attributed to the late Yogi Berra that “It ain’t over ’til it’s over…” as well as the title of comedian Larry David’s classic television series, “Curb Your Enthusiasm.”

Perhaps we are indeed deep into the ninth inning when it comes to near zero interest rate protocol stateside. But outstanding issues tied to stateside manufacturing, US multinational earnings, fiscal reform, stimulus and austerity abroad along with geopolitical factors may still keep the Fed from raising the benchmark rate when the FOMC next meets in December.

Disappointed as we and others were in September, when the Fed withheld to exercise its option to raise rates, we’ll believe it when we see it....

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