while WE slept: USTs higher, belly BID (middle east tensions flare) on strong volumes; Williams still sees them as 'bumps' (and so, SSGAs 50bps rate cut comin'?); demark 13 s/t exhaustion (10yy)
while WE slept: USTs higher, belly BID (middle east tensions flare) on strong volumes; Williams still sees them as 'bumps' (and so, SSGAs 50bps rate cut comin'?); demark 13 s/t exhaustion (10yy)
Good morning … NOT a bank earnings analyst so I’ll begin with an excerpt from a Goldilocks desk note … … 8. in the context of the Fed, I’d pass along one observation. if there was a takeaway from client responses to last week’s note, it was the conviction and unanimity of this type of view: “given how strong growth remains and how far off their inflation target they are -- to say nothing of what the asset markets are clearly signaling -- is the Fed still serious about cutting several times this year?” I’m not saying this take was right or wrong -- and, I think there’s a big distinction between losing adjustment cuts and losing the availability of the Fed put -- but, if you had been stranded on a desert island for the past few years, you would be excused for asking about the necessity of rate cuts.
The Fed Whisperer.....
https://youtu.be/f2c-wQ5rotg?si=CHnlGyZxI7U5iv3c