A dovish Fed on interest rates turns a down day for commodities and emerging markets into an up day
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Waiting for the Fed to speak tomorrow
Tomorrow I’m looking to see the Federal Reserve signal, through its Dot Plot survey of opinion at the Fed, that it is looking for three interest rate in increases in 2016–that would be down from the four signaled in December but up from the one increase now priced into the futures market.
Saturday Night Quarterback (on a Monday) says, For the week ahead expect…
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Yesterday the European Central Bank’s moves disappointed the markets; today they’re leading a market rally
Yesterday, financial markets fell as traders and investors decided that the policy changes–another 10 basis point cut to deposit rates and an increase of 10 billion euros a month in asset purchases–weren’t enough, especially in the face of lower forecasts for inflation and economic growth from the central bank. Today, financial markets seem to have decided that they’re reason to rally.
No magic in this morning’s news from the European Central Bank
The longer the financial markets thought about the actions announced by the European Central Bank today, the less impressed markets were. The STOXX 600 Europe Index had climbed as much as 2.5% during the day, but after peaking around 1 p.m., the index finished down 1.7% for the day.
Tomorrow is European Central Bank day–market is skeptical that Draghi will deliver more than the minimum
After being disappointed in December when the European Central Bank delivered only the minim expected, financial markets are going into tomorrow, March 10, positioned for another disappointment from Mario Draghi and the EuroZone central bank.
Saturday Night Quarterback says, For the week ahead expect…
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...What’s correlated now? And for how long? (More thoughts from my book on volatility Juggling with Knives)
I argue in Juggling with Knives is that a period of high volatility changes how the market behaves. For example, we can expect correlations among asset classes to come together and then fall apart with increasing rapidity
Dollar falls on “adjustment” day
I do know that markets that offer two alternatives both of which lead to lower stock prices aren’t my favorite occasions for putting money to work.
Saturday Night Quarterback says, For the week ahead expect…
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...China’s reserves drop in November; is a devaluation or more stimulus in the cards?
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