Category Archives: Committees
Gold Pops As Bitcoin Drops, Dollar Snaps Longest Win Streak Since Jan 2016
"Contained"… Post-FOMC, Gold was the biggest gainer… US Equities were holding to gains but tumbled in the last few minutes with the S&P turning red… Nasdaq manged to hold gains after The Fed… VIX was noisy around CPI early on and snapped higher into the close (breaking above the terrifying level […]
FOMC Hikes Rates As Expected: Expects 3 Hikes, Faster Growth As Two Dissent
With a 98.3% probability heading in, there was really no doubt the most-telegraphed rate-hike ever would occur, but all eyes are on the dots (rate trajectory shows 3 hikes in 2018), inflation outlook (unchanged), and growth outlook (faster growth in 2018), and lowered unemployment outlook to below 4%. The Fed also plans to increase its […]
Fed Begins Balance Sheet Unwind, Expects One More Rate Hike In 2017
Today's the day. On Nov 25, 2008 The Fed announced it would begin buying assets for its own account to save the world. In Oct 2014, The Fed ended its QE3 buying program but continued to reinvest the proceeds to maintain its $4.4 trillion balance sheet. Today, Janet Yellen announced the balance sheet will be […]
“Reading Between The Dots”: Is The Fed About To Admit The Market Was Right All Along
With the Fed set to unveil its first balance sheet reduction in modern history – an event that is largely priced in – what traders are far more interested in, is what will happen to the Fed’s “dots”, where consensus anticipates no move for the 2017 dot, while the 2018 and 2019 dots could shift […]
The Truman Show Markets
Via Global Macro Monitor, We have finally made the time to more closely review the release of last week’s Fed minutes from the July 25-26 meeting. We kind of like what we see. Debate Breaking Out Among FOMC Members? A debate appears to breaking out between members and staff of the Federal Reserve’s FOMC about […]
Janet Yellen Is About To Speak: Here’s What To Look For
Fed Chair Yellen will be testifying to the House Financial Services committee at 1000EDT, followed by testimony tomorrow before the Senate Banking Committee (the testimony for both events is likely to be identical, as it has on previous occasions), however her prepared remarks will be released 90 minutes earlier, at 8:30am. Courtesy of RanSquawk, here […]
Fed Warns “Equity Prices Are High”, Sees Low Volatility As A “Risk To Financial Stability”
While the core focus in the June FOMC minutes was on whether and when the Fed would hike next, and/or begin its balance sheet unwind (indicentally, Fed Funds futures now shows odds of another rate hike in 2017 at about 60%), what was perhaps most notable in today’s Minutes was the Fed’s repeat warning about […]