‘Twas the night week before Christmas, when all through the (financial) house Not a creature trader was stirring, not even a mouse; With the exception being traders sending 2Y30Y Swaptions down to their lowest level since 2005.
Swedish retailer H&M, operating in 62 countries with over 4,500 stores and, as of 2015, employ around 132,000 people, suffered a downward sales shock leading to a decline in their stock price.
Yes, this was Federal Reserve Chair Janet Yellen’s last Open Market Committee (FOMC) meeting. And the FOMC raised, as widely expected, the Target rate (upper bound) to 1.50%.
According to the SF Fed’s calibration of the Taylor Rule, the Fed Funds Target rate should be 6.13%
Just when I though Producer Price Inflation (Final Demand) finally hit 3% … they pulled it back in (to 2.4% YoY).
US Real GDP is growing at 2.3% YoY. What’s not to like? How about the lowest unemployment rate since 2000 and the worst wage “recovery” in modern times?
Total nonfarm payroll employment increased by 228,000 in November, and the unemployment rate was unchanged at 4.1 percent, the U.S. Bureau of Labor Statistics reported
The New York Federal Reserve has released their weekly SOMA (System Open Market Account) report.
Crypto-currency Bitcoin has experienced a tremendous run-up since the 2016 election (November 8th) of Donald Trump. In fact, it has risen from $710 on election day 2016 to $15,600 as of today.
The US Treasury 10Y-2Y curve continues to go down (flatten).