Hints and tips:
...“Higher for longer is dead,” said Kristina Hooper, chief global markets strategist at Invesco. “Powell wrote the epitaph [this week].”...
...“The Fed will likely need more data to feel comfortable [before cutting rates],” said Kristina Hooper, chief global market strategist at Invesco....
...But . . . it’s very performative,” Hooper added....
...The benchmark 10-year yield slid as much as 12bp after the Treasury’s refunding announcement, v FactSet....
...“Powell wrote the epitaph [this week].”...
...The bond market had previously strengthened this week on the back of comments by Fed chief Jay Powell that the central bank was “proceeding carefully” with future rate rises....
...Fed chair Jay Powell homed in on this last month at the central bank’s symposium in Jackson Hole, Wyoming....
...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....
...A soft landing may be even more plausible if the Fed stops raising rates now, a possibility that Powell seemed open to this week....
...Hooper at Invesco said: “Powell has admitted . . . tightening credit conditions [are] doing some of the Fed’s work for it....
...Powell “may have wanted to increase the optionality towards a pause, but in the way he answered questions he pushed too far,” said Peter Hooper, vice-chair of research at Deutsche Bank, who worked for the...
...Powell’s optimism might have been subtle, but it was in evidence throughout the question and answer session....
...Fed chair Jay Powell said last month that the central bank would decide on further rate increases on a meeting-by-meeting basis....
...“Perhaps the recession obsession is misplaced,” said Kristina Hooper, chief global market strategist at Invesco US. “We’re seeing a divergence in markets....
...“Really peeling back the layers, it is very positive in terms of consumer spending,” said Kristina Hooper, chief global markets strategist at Invesco....
...“If I were to provide a theme for this jobs report, it’s clearly on the path to normal,” said Kristina Hooper, chief global market strategist at Invesco....
...In a paper I have written with Stephen Cecchetti, Michael Feroli, Peter Hooper and Kermit Schoenholtz, just presented at the US Monetary Policy Forum, looking at the historical record and economic modelling...
...Fed Chair Jay Powell on Friday said that the credit crunch expected in the wake of the collapse of the regional banks may limit how much the Fed needs to raise rates....
...Peter Hooper, a Fed veteran of almost three decades who is now the global head of economic research at Deutsche Bank, said that pledge will become increasingly difficult to stick to as job losses begin to...
...“[V]ery different” is perhaps shown better by this chart: Englander and Hewin continue (our emphasis): The Q3-2022 B-D adjustment added 294,000 NFP jobs....
...Jamie Powell has now formally left FTAV (sob) but Robin is back in Oslo from a badly-timed but worthwhile trip to the US, while Bryce has been reinforced with the addition of George Steer to the team in...
...Hooper said the fed funds rate might need to rise as much as 1 percentage point above “neutral” to roughly 3.5 per cent in order to tame price pressures....
...Cue reams of analysis over how much space pilot Powell has to work with....
...The textile department of London’s V&A museum has sent boxes of fabric scraps to turn into paper, which will then go back to its paper-conservation department, which has “a nice circularity”, observes Frith-Powell...
...“In the short term, this Fed rate hike is negative because it will have a negative impact on earnings,” said Kristina Hooper, chief global macro strategist at Invesco....
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