With Elaine’s second hip surgery done, we are back to being transfixed by markets. Which have become a bit off-the-wall this week. Part of future direction may be guided by Fed Minutes but there are a ton of interest-sensitive “moving parts.” as we will discuss.
Thanks to the many well-wishers and thanks for your prayers on Elaine’s behalf. Unlike the first surgery (splitting of femur, banding, and weight restrictions) the surgery this week was “right by the modern medicine playbook.”
Her surgery began around 10 AM Tuesday. By 2:45, not only was she in a wonderfully appointed room, but she had also been up and walking (!) about 30-feet.
Amazing: in five hours to go from extreme joint pain to a new metal hip joint and walking with no weight restrictions is close to magic.
With our usual charts and comments, let’s see how the markets behaved while we were distracted by medical realities, shall we?