Speaking after talking at community banking conference in St. Louis The Cleveland Fed president adds:
Still higher on the day, but much of the gains have been erased The Nasdaq is up 33 points or 0.41% at 8032. The high reached 8053.93. The low is at 8012.02 The Dow is up 66 points or 0.25% at 26840. The new all time high reached 26951.81.
Iran sanction fear trump surprise build Today, the DOE said there was a surprise build of 7975K vs 1500K estimate. The private API showed a build of around 900K.
That loud beeping across America will be the test. First ever Presidential alert will set off all cell phones at 2:18 PM ET. It is just a test. ForexLive
He is always open to Q&A though Fed’s Bullard also did not comment on monetary policy in his prepared remarks at a community banking conference. Having said that, he tends to not be so closed mouthed with audiences and reporters. So we will be looking out for any comments later. Bullard is a dove.
This could be a watershed US 10-year yields are up 9.5 bps to 3.16%. That’s the highest since 2011 as it breaks some enormous resistance levels. This could be signaling the end of a multi-generational bull market in bonds. Worse yet, it could mean a bear market in bonds and that would mean a fundamental…
This from Goldman Sachs on Fed Chair Powell and the Federal Open Market Committee, some prescient analysis ahead of Powell’s comments late NY time What could make the FOMC speed up the pace of tightening? What would make it pause? And how will the Committee know when it’s done?
Speaks in Chicago about payment system ForexLive
A thoughtful piece from Credit Agricole overnight on the euro In brief, CA cite: Italy: Positioning: On the ECB: CA conclude with a trade recommendation to buy EUR/USD. Their nominated entry point is under water as I post, but if you like their reasoning you have an opportunity for better entry thanks to the overnight…
….but is seeing a failure and modest bounce. The AUDUSD has been marching lower today and in the process fell below swing lows from September 17 and 18 and also cracked below a lower trend line at 0.7124. The break below the trend line moved to a low of 0.71184, but has bounced. There could…