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Gold analysis: Yields slide on weak data, but FOMC poses key risk
Following the release of disappointing US data and company earnings, we saw bond yields take a nosedive ahead of the FOMC policy decision later in the day. The benchmark US 10-year bond yield dropped to 3.95%, and this helped to underpin gold and silver, caused the USD/JPY to slip below 146.50. All of a sudden, the market pricing of rate cuts for 2024 jumped to 145 basis points compared to 130 bps earlier in the week, with the odds of a March cut rising back to 65% from around 45% before the data release. However, with the FOMC decision looming, I wouldn’t be surprised if these moves reverse. US data disappoints ... (full story)
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post: ECB’s Lane: ECB Needs More Confidence That Inflation Is Headed To 2% - Inflation A Smaller Problem But Still A Problem
US Treasuries rallied Wednesday as data showed hiring slowed at a faster-than-expected pace and the shares of a New York bank tumbled after it reported a surprise loss, raising ...
Iran threatened Wednesday to “decisively respond” to any U.S. attack on the Islamic Republic following President Joe Biden’s linking of Tehran to the killing of three U.S. ...
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Recent indicators suggest that economic activity has been expanding at a solid pace. Job gains have moderated since early last year but remain strong, and the unemployment rate has remained low. Inflation has eased over the past year but remains elevated. The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. The Committee judges that the risks to achieving its employment and inflation goals are moving into better balance. The economic outlook is uncertain, and the Committee remains highly attentive to inflation risks. In support of its goals, the Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent. In considering any adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent. In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, as described in its previously announced plans. The Committee is strongly committed to returning inflation to its 2 percent objective. In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals. The Committee's assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments. post: Rates unchanged FOMC statement gets a big rewrite. Tightening bias gone, but in a way that says a cut isn’t necessarily imminent. “The Committee does not expect it will be appropriate” to cut “until it has gained greater confidence that inflation is moving sustainably" to 2% pic.twitter.com/Rzs7fFE8hv post: ? FOMC Does Not Expect to Reduce Rates Until It Has "Greater Confidence" Inflation Moving Toward 2% ? FOMC Judges Risks to Achieving Employment, Inflation Goals Moving Into Better Balance ? FOMC: "Any Adjustments" to Rates To Be Based On Incoming Data, Evolving Outlook,…
The Federal Reserve System is the central bank of the United States. It performs five general functions to promote the effective operation of the U.S. economy and, more generally, ...
post: FED'S POWELL: THE ECONOMY HAS MADE GOOD PROGRESS, INFLATION HAS EASED. post: FED'S POWELL: THE POLICY RATE WELL INTO RESTRICTIVE TERRITORY. post: *POWELL: ECONOMIC ACTIVITY HAS BEEN EXPANDING AT SOLID PACE post: FED'S POWELL: ACTIVITY IN THE HOUSING SECTOR HAS SUBDUED. post: FED'S POWELL: THE LABOR MARKET REMAINS TIGHT.
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- Posted: Jan 31, 2024 1:33pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 234