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Redacted Version Of The July 2017 FOMC Statement
Photo Credit: Leo Newball, Jr. || I visited that building when I was 24. =========== June 2017 July 2017 Comments Information received since the Federal Open Market Committee met in May indicates that the labor market has continued to strengthen and that economic activity has been rising moderately so far this year. Information received since the Federal Open […]
Euro Is Headed For 1.18
The EUR/USD is headed for 1.18. The Federal Reserve did exactly what the market anticipated but unfortunately, that was not enough. The U.S. dollar sold off aggressively in the hour after the monetary policy announcement sending EUR/USD to a 2 year high. The FOMC statement did not disappoint – the Fed left interest rates unchanged, […]
Global Trade Back To Trend
The latest hard data on global trade continue to show a picture of global trade volumes returning to trend growth. We look at the CPB global trade monitor data and the RWI/ISL global shipping container throughput index. The latter series provides a slightly more timely view and the key data series from that is displayed below. It shows seasonally […]
Yields Fall Sharply As Treasurys Underpinned By Block Trade Amid ‘Wiggle Room’ Talk
Ok, well yields are diving, although it took Treasurys a few minutes longer to react to the Fed statement than it took the dollar, which dropped like a rock pretty much immediately. We’ve now retraced the entirety of yesterday’s move higher in yields and notably, we’re now sitting pretty close to where we were on […]
TD Bank Well Positioned For Continued Top Line Growth Going Forward – Here’s Why
Written by SmallCapPower.com TD Bank Group (NYSE:TD) (TSX:TD) is the sixth-largest bank in North America by branches and serves 25 million customers in three key business segments (Canadian Retail, U.S. Retail, and Wholesale Banking), operating in a number of locations in financial centers throughout the globe. TD Bank Group ranks among the world’s leading online financial […]
Anticipating Gilead Q2 Earnings
Gilead (GILD) reports Q2 earnings after hours today. Analysts expect revenue of $6.35 billion and eps of $3.08. The revenue estimate implies a 2.3% decline, up from the 11% decline experienced in Q1. Investors should focus on the following key items: HCV Revenue Will Continue To Crumble Gilead is known for having developed a cure for […]
26 July 2017 FOMC Meeting Statement: Balance Sheet Reduction To Begin Soon?
The Federal Open Market Committee (FOMC) maintained the federal funds rate as expected. Additionally, no action was taken at this meeting to reduce the Federal Reserves’ balance sheet. …. For the time being, the Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in […]
Fed Balance Sheet Unwinding Expected “Relatively Soon”: Let The Debate Begin
As expected, today’s FOMC meeting came with zero surprises. In addition to its standard boilerplate about inflation, the Fed stated it would begin balance sheet normalization “relatively soon”. Here is the full Text of the FOMC Press Release. Key Snips Inflation on a 12-month basis is expected to remain somewhat below 2 percent in the near […]
FOMC Sticks To Script: Balance Sheet Unwind To Begin “Relatively Soon” And USD Retreats
The FOMC statement reads very much like the June statement. There were some minor tweaks in the first paragraph that discusses the broad economic performance since the last FOMC statement. There was little change in the assessment of inflation, which was a keen interest to investors. As in June, the Fed recognized that inflation was running […]
VIX Crashes To Record Low, Gold Spikes, Dollar Nosedives After ECB/Fed Comments
Ignoring the “relatively soon” balance sheet unwind, the dollar index is careening lower (at 14-month lows) on inflation-weaker signals from The Fed. And gold spiked back above its 200DMA ($1251)… However, stocks limped higher as VIX crashed to a record low 8.84… As Bond traders feel the short squeeze coming on…
