Inside Markets — Implications
The Fed’s decision to provide liquidity has markets speculating the central bank may elect to leave rates unchanged when it meets next week..
Inside Markets — Bank Examiner
Yesterday, we discussed the negative impact on bank deposits and assets from the Fed’s QT operations. The Fed’s QE program resulted in rapidly rising bank deposits and support for asset values as the central bank became the largest source of demand for bonds.
Inside Markets — Signal from Banks
In a clear signal from banks, US large cap and regional bank indices are down ~10% for the week after cautious management presentations at a sell-side conference on Monday.
Inside Markets — Challenging Outlook
Multiple factors combine to create a challenging outlook for equities. Yesterday’s testimony from Fed Chair Powell triggered a ~1.5% sell off in the S&P 500 (SPX) and further yield curve inversion
Inside Markets — Bond Yields
Longer-dated bond yields have limited room to lift from current levels given hawkish rate expectations and the potential for a more benign February Jobs Report this Friday.
Inside Markets — Macro Catalysts
US equities are mostly higher into a busy week of macro catalysts.
Inside Markets — Resiliency
At current levels, the S&P 500 (SPX) is essentially unchanged from where it stood last April when terminal rates were at ~3%.
Inside Markets — Credit Spreads
At current levels, the S&P 500 (SPX) is essentially unchanged from where it stood last April when terminal rates were at ~3%.
Inside Markets — Short-Term Support
Short-term support is in focus as the global disinflation cycle is challenged by recent hotter-than-expected inflation data including US ISM as well as German, France and Spain CPI.
Inside Markets — Growth Data
February US growth data disappoints for a second day with consumer confidence, Chicago PMI and Richmond Fed Index all missing expectations.