Tag Archives: FOMC

FOMC: A Big Double Cheese Non-Burger

Monetary policy history made today. The  Federal Open Market Committee (FOMC)  confirmed it would begin its long-awaited quantitative tightening (QT). In October, the Committee will initiate the balance sheet normalization program described in the June 2017 Addendum to the Committee’s … Continue reading

Posted in China, Euro, Eurozone Sovereign Spreads, Fed, German Bund, Monetary Policy, Sovereign Debt | Tagged , | 2 Comments

Fed Day With Extremely Loose Financial Conditions

Today is the day,  folks. The consensus is the Fed announces the start of quantitative tightening (QT).   History in the making. Draining Liquidity Though monetary tightening officially began in December 2015,  this will be the first time the Fed drains … Continue reading

Posted in ECB, Economics, Equities, Euro, Fed, Monetary Policy, Uncategorized | Tagged , , , , | 1 Comment

Debate Within The FOMC: Bubblistas v. Efficient Marketistas?

We have finally made the time to more closely review the release of last week’s Fed minutes from the July 25-26 meeting.   We kind of like what we see. Debate Breaking Out Among FOMC Members? A debate appears to breaking … Continue reading

Posted in Equities, Interest Rates, Monetary Policy, Uncategorized | Tagged , , , , | 9 Comments

Dollar Index Spanked After FOMC – Nears Key Support

The Dollar Index was spanked today after what the market percieved as a dovish FOMC statement.    Kind of odd as early inflation indicators starting to pick up. We were expecting a short-term rally as everyone is long the euro/dollar pair, … Continue reading

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Chart of the Day: Operation Twisted Yield Curve

Interesting chart from Bloomberg on how the Fed’s treasury holdings have changed under operation twist, or more formally, the Maturity Extension Program and Reinvestment Policy. After the end of the month no more selling of the short end to buy … Continue reading

Posted in Bonds, Chart of the Day, Economics, Monetary Policy | Tagged , , | 1 Comment

Cue FED

Here’s some interesting data the Fed is surely looking at. The monetary base has been flat lining since the end of QE2 —  i.e., the balance sheet growth of the Federal Reserve has not been above long-term growth.  May explain … Continue reading

Posted in Gold, Monetary Policy | Tagged , , , | 2 Comments

Swan Dive!

The mutilation of savers and the working class continues.   QE3+ Fiscal Cliff =  More Jobs? The Nasdaq is up over 20 percent this year and we just got another monetary blast.  Who would of thunk it?  Think Kafka, folks. (click … Continue reading

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FOMC’s Hawks & Doves

(click here if graphic is not observable)

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Squirrelly Summer Market

Squirrelly trading after the FOMC announcement.   Looks like real money is on vacation and traders just flipping with each other.   No big sellers and shorts forced to cover Headlines out of Europe show a little more flexibility from Germany … Continue reading

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Where The Inflating Things Are

On the eve of the Fed’s FOMC two-day meeting we thought this chart illustrating what is inflating in the U.S. consumer basket very relevant.   Don’t see much deflation x/ energy and the core CPI (x/ food and energy) remains stuck … Continue reading

Posted in Economics, Inflation/Deflation | Tagged , , , | Leave a comment