There was a selloff in the market today, evidently, Retail Sales were too strong. Horrors I know! This meant there was an increased risk of an interest rate rise. Oh well, so it goes. Either way, it's suggested that the retail sales numbers are .8% higher because of a huge increase in fertilizer sales, which includes home gardening. So there you go, because too many people have been working in their garden lately people got spooked in the market. I'll note that I'm not saying rates shouldn't go higher or anything. Just that it's interesting that fertilizer numbers were up so strong which sparked overheating fears. I will note that traditionally rising rates correllate with a rising market.
Posted by Joel at April 13, 2004 01:55 PM | TrackBack