Today is one of the most anticipated FOMC meetings in a long time, if not ever. Markets expect a hike. The Fed has convinced them of that. Fed funds futures are pricing in a 83-percent chance of a hike. The … Continued
The year’s last FOMC meeting begins today. Tomorrow, we will probably witness the first rate hike in nine years. On June 29, 2006, the fed funds rate was pushed up by 25 basis points to 5.25 percent, and stayed there … Continued
Next week, the FOMC meets. The two-day meeting, the year’s last and a highly anticipated one, ends Wednesday. A rate hike is widely expected. The fed funds rate has been stuck near zero for the past nine years. Markets currently … Continued
U.S. multinationals can breathe a little easier. Maybe. Exports are under pressure… it has been that way for a while now. Nominally, U.S. exports of goods and services peaked at a seasonally adjusted annual rate of $2.36 trillion in 3Q14, … Continued
Stocks of major U.S. banks and brokers are behaving in a way that shorts are probably not very happy with. Should they treat this as a signal or noise? The top six have reported September-quarter results, and it is a … Continued
“Most of my colleagues and I anticipate that it will likely be appropriate to raise the target range for the federal funds rate sometime later this year and to continue boosting short-term rates at a gradual pace thereafter as the … Continued
Last week when the Federal Open Market Committee (FOMC) met, market participants were divided as to whether or not the Fed would raise rates. Most economists expected a hike, as did the short end of the yield curve; two-year Treasury … Continued
The Federal Open Market Committee begins its two-day meeting today, the significance of which cannot be stressed enough. A lot is riding on this. After this meeting, there will be two more left this year – one late October and … Continued
Last week when the advance report on U.S. durable goods for June was published, new orders for non-defense capital goods ex-aircraft – used as proxy for business capital expenditures – were $68.4 billion, and May was reported as $67.8 billion. … Continued
The following are futures positions of non-commercials as of June 23, 2015. Change is week-over-week. 10-year note: Yields pushed up nearly 21 basis points for the week. Sales of both new and existing homes did well in May (even though … Continued