Hints and tips:
...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....
...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)....
...Jay Powell: Between a new tone in the policy statement, fresh projections indicating a less aggressive path for interest rates and Powell’s own commentary during a press conference, the signals pointed in...
...We’re wondering to what degree Jay Powell will acknowledge slowing pace of disinflation, and what he will attribute it to. Send me your thoughts: robert.armstrong@ft.com....
...After Barkan’s lobbying, “current chair Jerome Powell often sounded like he was reading from Fed Up’s hymn book when he touted the praises of low unemployment....
...The benchmark 10-year yield slid as much as 12bp after the Treasury’s refunding announcement, v FactSet....
...Ed Al-Hussainy, our regular correspondent, expects one more 25bp rate increase, framing the move like this: “Will another hike be material to the inflation outlook? No....
...Lucy Powell, shadow leader of the House of Commons, is discussing with each policy team whether their main proposals need legislation and, if so, how urgently they would need to be prioritised....
...He replaces Adel Al-Saleh as DT’s representative. Smart reads Spac attack Last week the US Securities and Exchange Commission announced new rules for special purpose acquisition companies....
...— having the upper half of your house set on fire and be destroyed is bad— having your whole house set on fire, igniting the huge fireworks stash in your basement, is significantly worse Or, as Beutel et...
...Edward Al-Hussainy, senior analyst at Columbia Threadneedle, said: “Nothing in Powell’s interview deviated from the message in [the] post-FOMC press conference, about whether the labour market report has...
...US Federal Reserve chief Jay Powell pushed back on speculation that the Fed had won its fight against inflation, saying it was “premature” to rule out further interest rate rises....
...The context for that was the turmoil around Silicon Valley Bank, et al....
...Fed chair Jay Powell suggested at yesterday’s press conference that rates were probably at or near their peak for this tightening cycle. We also got projections from Fed officials about rate cuts....
...Egypt, India, Jordan, Kuwait, Saudi Arabia, Turkey, UAE: financial markets closed for Eid al-Adha....
...Jay Powell. He’s the man, right? Ethan WuRob, I think your Americentrism is showing right now. Robert ArmstrongIt is....
...Everyone expects Jay Powell et al to say “no rate increase today, but maybe in a month”....
...Monetary policy: Federal Reserve chair Jay Powell and Bank of Spain’s governor Pablo Hernández de Cos are scheduled to appear at a conference while Federal Reserve Bank of Atlanta president Raphael Bostic...
...If we are right that consumer spending, despite some recent softening on the margin, is still at or above trend, that is another thing for Powell et al to fret over....
...Fed chair Jay Powell has now shifted the debate towards the timing and magnitude of rate cuts....
...“Everyone’s disappointed by the China [GDP] number,” said Al Munro, senior base metals strategist at Marex, a brokerage. “We’re in a very choppy, uncertain environment”....
...Prosecute fraud, maybe regulate crypto exchanges like casinos, and keep the SEC et al out of it. This is a disagreement about how to cordon off crypto so that when crypto burns, it is controlled....
...The hard question (as Unhedged’s friend Ed Al-Hussainy of Columbia Threadneedle emphasises) is whether the Fed really chooses near-zero rates — or is forced into them, instead....
...“Holding on to bets on interest rates rising further is now much less attractive and not worth the risk of being surprised by weak labour market data tomorrow,” said Edward Al-Hussainy, senior analyst at...
...The cost could be set to increase further after Fed chair Jay Powell said this week that the strength of US economic data may lead to the central bank re-accelerating its efforts to lift borrowing costs,...
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