If Jay Powell’s comments were intended to spur the market to new highs, NY Fed President John Williams’ were intended to slow the roll. On CNBC this morning: “We aren’t really talking about rate cuts right now…we’re very focused on the question in front of us, which as chair Powell said… is, have we gotten … continue reading →
Tag Archives: 2s10s
While the investing world argues whether the FOMC will or should raise rates a whopping 25 bps, the bond market is sending a strong message that markets are on the brink of a significant move.Futures, drawn higher by the usual pre-meeting meltup, are oblivious. continued for members… … continue reading →
Economic data came in as expected except for Philly Fed – a huge miss at -19.4 versus -5.0 consensus and -8.7 prior. But, it was the former dove turned chief hawk Jim Bullard who decided enough is enough, suggesting rates could reach as high as 7% before inflation is tamed. Futures were not amused. It’s … continue reading →
The downside scenario triggered when S&P futures reached our upside target on Jan 22… $ES_F just reached our next upside target.https://t.co/zTy3q8WSBd pic.twitter.com/CoRSemmDOk — pebblewriter (@pebblewriter) January 22, 2020 …is playing out very nicely indeed. Credit VIX, which uncharacteristically didn’t collapse last night……and CL which, having come close to our 51.62 target on Sunday, is taking … continue reading →