Financial News vs. Noise
Quite honestly was not expecting that. I figured Bostic’s comments were foreshadowing a cooler or in line number. I also thought the trader who put on the massive bet on lower rates knew something. Now we see if the Fed decides to move the goalposts and prioritize growth over inflation. Powell has been as wrong about current Fed policy being restrictive as he was when he called inflation transitory. Both times resulted in policy being overly accommodative, which is probably why you can’t count the bulls out. Then you had this…
Biden says inflation report ‘may delay’ expected interest rate cut-The Hill
Biden doesn’t make Fed policy so one has to wonder whether the fact we are in an election year has any influence on the Fed here.
Watch rates, which spiked yesterday….
Also watch what Nickileaks has to say, he’s the reporter the Fed talks to….
Fed Rate Cuts Are Now a Matter of If, Not Just When-WSJ
A third straight month in which prices were hotter than expected likely sends officials back to an uneasy holding pattern where they wait several more months for either better inflation data or the type of evident economic weakness they were hoping to avoid.
@eliant_capital Can tell the Fed /Biden is still scared shitless of growth deteriorating with recent Fed speak all now starting to accept higher inflation & now Biden ruining the Fed’s independency by saying they WILL cut this year.
@Mayhem4Markets We'd probably be better off as a country if we just let the interest rate market do the work of the Fed, rather than having a bunch of people sitting around trying to centrally plan the economy.
If this continues it makes the rate sensitive names problematic. I continue to think regional banks have a problem regardless, higher interest rates just add fuel to that fire.
Went short ABR again yesterday, it’s my favorite REIT to hit in times like these
If rates continue to move higher than the unprofitable tech names will feel the brunt.
I still believe you buy the dips as I do feel the Fed want’s to cut rates this year and the market expects them to do that. You still need to keep your head on a swivel though, earnings seasons gets real on Friday with the banks.
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