No consensus at the Fed in July for faster interest rate cuts, minutes show
The financial market didn't get what it had hoped for out of today's release of the minutes from the Federal Reserve's July 31 meeting. The market was hoping for something in the minutes that pointed toward a shift in Fed policy toward an extended cycle of interest...
Markets bet that Fed will follow ECB this week to announce something “spectacular”
Gotta love that financial market enthusiasm for central banks. Last week the markets rallied on signals from the European Central Bank that it would cut its key interest rate--now at a negative 0.40%--to a negative -0.50%, lower the rates that banks pay to borrow...
Trick or Trend: U.S. again considers issuing 100-year Treasuries
Our regular (or occasional or perhaps occasionally regular) Friday series (actually running on Friday this week) Trick or Trend looks at what might (or might not) be emerging investible trends. Exclusively on JAM. This post won't run anywhere else. Ever. The last time...
Central banks talk the markets up: Here we go again!
We've seen this play before: Financial markets start to tumble and central banks step in--not with actual stimulus quite yet but certainly with talk of stimulus. The European Central Bank and the German government took a turn today. Germany's Der Spiegel magazine...
Saturday Night Quarterback says, For the week ahead expect…
... well, expect that nothing much else will matter if the yuan-dollar exchange rate moves noticeably up or down this week. In a normal week, investors and traders would be studying reports on inflation (CPI), retail sales, initial claims for unemployment, oil...
China strikes back
We suspend our usual programming to cover the developing financial market and likely economic reaction to China's decision to let the yuan tumble in retaliation to President Donald Trump's decision last week to place a 10% tariff on an additional $300 billion in...
Trick or Trend: Have the new China tariffs reset the Powell put?
Our regular (or occasional or perhaps occasionally regular) Friday series (actually running on Friday this week) Trick or Trend looks at what might (or might not) be emerging investible trends. Exclusively on JAM. This post won't run anywhere else. Ever. Today,...
Decent job growth in July; bond market prices in 100% chance of another interest rate cut on September 18
The U.S. economy added 164,000 jobs in July. That's down from the 193,000 jobs added in June (revised down from an initial 224,000) and slightly higher than the 160,000 jobs forecast by economists surveyed by Briefing.com At 3.7% the headline unemployment rate was...
Trump’s new round of China tariffs freaks out financial–especially bond–markets
So much for any hopes that the resumption of U.S-China trade talks would put an end to the tariff war in anything like the near term. The new round of talks only began on Wednesday, was adjourned after a day, and was scheduled to resume in Washington in September....
Treasury says debt sales to remain at record levels for rest of 2019
Can you connect the dots? No one in Washington seems to be willing to make the effort. On a day when the Federal Reserve said it would cut its benchmark interest rate by 25 basis points and end its efforts to sell some of the bonds in its own portfolio two months...
Fed cuts interest rates by 25 basis points; financial markets want more, more, more
Today the Federal Reserve's Open Market Committee cut the Fed's benchmark interest rate by 25 basis points. That's pretty much what the financial markets had been expecting--although a sizable minority of investors and traders had been hoping for a deeper cut of 50...Jim’s Stock Alerts
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