MFA Musings: 11/18/19
Enthusiasm in the markets.
Good morning and happy Monday!
Enthusiasm was rampant in the stock market last week, as we reached a new record high. Also, Saudi Arabia’s state-owned energy company Aramco is having an IPO. The company is valued at $1.7 trillion, or a little below the goal of $2 trillion.
On the obscure side of things, I (unfortunately) saw my first presidential campaign ad on television for the 2020 election. Also, The Fighting Irish of Notre Dame failed to sell out its football stadium Saturday for the first time since 1973, ending a streak of 273 games. Are 4K televisions eroding campus games, or was it deer hunting season?
Last week, Federal Reserve Chairman Powell announced that he expects the U.S. economy to continue growing at a solid pace. He also stated he expects short-term interest rates to remain unchanged in the coming months. Clearly, the stock market likes this view.
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Have a great week!