FRB Chair’s much anticipated speech was not a watershed event. Powell essentially reiterated the messaging from the last FOMC statement and Minutes. If things evolve as expected, the Fed could start to ...
Both Citicorp and Merrill Lynch are suggesting the 10-year will yield 2.0% by year’s end. Merrill further stated this increase in yields will cause a 16.5% decline in the S & P 500 as valuations are...
Will the upcoming Jackson Hole Symposium be of any significance, defined as will there be a major change in monetary policy? In years’ past the Federal Reserve has used this platform to...
There is a plethora of explanations for recent equity weakness; tapering, resurgent virus worries, rising wages, inflation, supply bottlenecks, option expiration....
The Fed Minutes signaled that a formal decision on a reduction of its massive bond paying program could happen in 2021. Many, including me, thought the Fed would...
For many years the Jackson Hole Symposium was the Federal Reserve event of the year. The hype was intense. Several years ago, the event took a noticeable downshift as ...
Sentiment fell to the lowest level in nearly a decade. The data fell short of all estimates by a wide margin with perhaps the decline in future expectations most ...
Yesterday I rhetorically asked whether reality will return to the bond market with a vengeance. At the time of this writing the 10-year Treasury is yielding 1.37% up from ...
Will reality return to the bond market with a vengeance? Almost everyone including FRB Chair Powell is surprised by the two month advance in Treasuries. As widely discussed the ...
July’s employment data exceeded all estimates. More importantly the previous month’s data was revised higher thus suggesting considerable underlying strength. ...