Yield Curve

Traders On Hold As "Super Thursday" Looms

Yesterday's brief dip in ES has been promptly bought with US equity futures fractionally lower, Asian shares inching higher on Thursday and Europe unchanged ahead of today's Super Thursday, where we get the Republican tax bill revealed shortly before noon, the BoE's rate hike announcement, and Trump appointing Jay Powell as the next Fed chair, as well as as earnings from companies including Apple and Starbucks.

FOMC Leaves Policy Unchanged, Upgrades Growth To "Solid" From "Moderate"

In perhaps the least anticipated FOMC statement in months - with expectations of no rate-change and normalization on path - all eyes were on inflation/growth wording. Some feared a more dovish Fed might upset the exuberant growth narrative that is embedded into equity valuations (but not the yield curve), but The Fed seemed slightly more positive (and perhaps hawkish) by upgrading the economy from "rising moderately" to "at a solid rate."

US Futures Rebound After Disappointing Chinese, European Data

Yesterday's sharp Chinese selloff is now a distant memory after the BTFDers emerged, and this morning U.S. equity futures are once again levitating as the FOMC begins its two-day policy meeting, following an uneventful BOJ announcement on Tuesday morning which left all QE parameters unchanged. Asian stocks traded mixed steady while European shares climb.

Is It Finally Time To Buy Stock Market Vol?

"The boat still is extremely crowded, and there is no way I could bring myself to chase the robots, the Nasdaq, or any stock market up here into this euphoria..."

S&P Futures Slide After Chinese Stock And Bond Rout; Spain Rebounds, Dollar Drops

U.S. futures slid 0.2% as investors awaited a barrage of announcements including Wednesday's Fed decision, Friday's jobs report and, most importantly Trump's imminent announcement of who the next Fed chairman will be, although after the latest trial balloons, Jay Powell is now largely priced in, even as they kept a weary eye on the biggest Chinese stock and bond rout in months.