20 years ago, the Fed propelled the market higher when it created massive liquidity due to fears of Y2K.
Clinging to outmoded ideas of what is 'normal' and even what is 'low' will prevent you from seeing just how hands-off this Fed really is.
Apparently, unless the Iranian military simply does not train on their weapons, which I do not believe, the exercise was one of saving face... for now.
Until the music stops at the Fed liquidity merry go round, the oil market dynamics point to a continued rise.
The Committee members seem to be cautiously optimistic, and this fits well with their decision to keep rates on hold.
It happened. Deal with it.
There's my take on energy and the markets after the U.S. airstrike in Iraq.
Until the Fed stop non-QE QE, this market can and will continue grinding higher.
Also: People's Bank of China, the Fed, U.S./China trade deal, Brexit, USMCA.
No one accurately told us what would happen in 2019, so let's not try for 2020 -- but we can remember some valuable lessons.