Read this in The Manila Times digital edition.
WITH the end of Ghost Month, which I don't believe or follow, and the extremely early start of the Christmas season here in the Philippines, let me say I have a very dim view of horoscopes and the like. As Shakespeare wrote in "Julius Ceasar": "The fault, my dear Brutus, lies not in the stars, but in ourselves. For we are underlings."
Well, Christmas came early for the debt markets, with the Federal Reserve cutting rates on the higher side of expectations at half a percent, or 50 basis points, as odds were even for either 25 or 50. The more aggressive cut plus indications of more to come meant the Federal Reserve was confident inflation was finally under control, and the stock and debt markets had a great day after that, and the stock market indices reached a new high on September 19, the day after the announcement.
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