Hints and tips:
...Turbulence in public markets sparked by the US Federal Reserve’s decision to aggressively raise interest rates in its bid to tame inflation has many big asset managers salivating over an opportunity to step...
...Last week John Williams, president of the New York Fed, said the current state of the US economy means he does not “feel urgency to cut interest rates”....
...Financial markets are falling into line with the Federal Reserve’s outlook for US interest rates, as stubborn inflation data forces investors to relinquish their bets on extensive cuts this year....
...According to the 2023 Direct to Consumer Wine Survey by the Silicon Valley Bank, the average cost of a “reserve tasting” in Napa Valley was $128....
...The former is a near-term likelihood in China, however, and not implausible in the US as the Federal Reserve winds down quantitative tightening....
...If you owned rate-sensitive, high-risk stocks yesterday you have Unhedged’s permission to sell and take the rest of the year off (Carvana, Zillow, SoFi, et al rose 10 per cent or more)....
...Expectations that the US Federal Reserve will soon start cutting interest rates from two-decade highs have raised hopes among dealmakers for an M&A recovery....
...Neither the monster national players (JPMorgan Chase, Bank of America, Wells Fargo, Citigroup) nor the regionals (PNC, M&T, et al) have had much to say about the economy’s effect on credit quality....
...Most Federal Reserve officials wanted to keep borrowing costs high “for some time”, according to minutes of their meeting in December, adding to doubts that the US central bank is poised to begin cutting...
...Monetary policy: Federal Reserve governor Michelle Bowman, Cleveland Fed president Loretta Mester and San Francisco Fed president Mary Daly will all participate in events today....
...The riskiest, most beat-up members of the group (KeyCorp, Comerica, Zions, Western Alliance et al) rose the most....
...360 Madison in New York....
...Monetary policy: Federal Reserve governors Christopher Waller and Lisa Cook and New York Fed president John Williams will each be speaking at public events....
...With confidence dented across the sector, New York’s Signature Bank also fell....
...The headline acts for the economic data run this week are those three monetary policy musketeers — the US Federal Reserve, the European Central Bank and the Bank of England — each making their last interest...
...US interest rates: The US Federal Reserve begins its final rate-setting meeting of the year....
...But according to John Williams, president of the New York Federal Reserve, and his co-authors Kathryn Holston and the late Thomas Laubach, the economy may not have transformed as much as we think....
...That the Fed’s rate increases precipitated a banking crisis before they got inflation down to even vaguely near their target looks like a good example of what Akinci et al were arguing last year....
...More recently, the Bank of England, the Bank for International Settlement, and the Federal Reserve itself have all highlighted how Treasury bonds/futures arbitrage strategies have been staging a comeback...
...Economic data: The Federal Reserve Bank of New York issues its latest survey of consumer expectations. Results: Tyson Foods and Grindr report their latest financial figures later today....
...And Federal Reserve chair Jay Powell makes much the same argument. They didn’t see that Covid had itself reduced the likelihood of a large return of labour....
...The search for 12 jurors who will decide the fate of FTX founder Sam Bankman-Fried began in New York yesterday....
...Coming up next week With the US economy buoyant, the Federal Reserve makes its latest interest rate decision on Wednesday, while the Bank of England makes its decision on Thursday....
...Today’s top stories The US Federal Reserve announces its decision on interest rates at 2pm ET/7pm London today. Check back here for details and reaction....
...York....
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