This page has been archived and commenting is disabled.
Today's Economic Data Docket - The Fed
Today's existing home sales data, which will simply confirm that there is no hope for the housing market, will be completely ignored as everyone focuses on what gizmo Bernanke pulls out today from his magic bag of tricks.
Goldman recaps:
10:00: Existing home sales (August): Rebound. Goldman forecasts that existing home sales increased by 4.0% (month-over-month) in August to an annualized rate of about 4.85 million units. This would reverse the decline in July and return existing home sales to their June level. The consensus forecasts a smaller increase of 1.7% (mom).
GS: +4.0%; Consensus: +1.7%; Last -3.5%. MAP: 2
14:15: FOMC statement: Easing action. We see a high probability that the FOMC will announce further easing steps at the conclusion of today’s meeting. Several factors argue for action now rather than later. First, the FOMC put in place an easing bias at the last meeting. Second, Fed communication has indicated that easing options will indeed be discussed at the meeting. Third, the Fed will be technically prepared to use most of its remaining tools. Many of the options likely to be discussed have been around for a while, the staff has had time to assess these tools further since the August 9 meeting, and the committee has now had two days to finalize details.
A change in the composition of the Fed’s balance sheet—“Operation Twist”—looks very likely. However, there is still considerable uncertainty about the size and maturity mix of the sales and purchases. As a complementary measure, we also expect that the committee will announce a cut in the interest on excess reserves (IOER) rate to 0.1% from 0.25%, although this is a much closer call. An IOER cut would lower market interest rates a small amount and could aid communication.
We see low odds of a change in the Fed’s communication of its policy objectives, a proposal supported by Chicago Fed President Evans and others. This is a complex and somewhat controversial idea, and likely requires further discussion. There also appears to be little appetite on the committee for an outright expansion of the Fed’s balance sheet
»
- 3263 reads
- Printer-friendly version
- Send to friend
- advertisements -
The U.S Should make a 2 sided gold market at $20,000 per ounce. Discussed at LBMA conference
http://www.lbma.org.uk/assets/C11S2_Hepworth.pdf
page 12/12
It's QE3 time, bitches.
Otherwise known as Operation Twist.
You gold and silver bugs should be loving this. You're about to make quite the profit.
Congrats.
http://geraldcelente.proboards.com
We should have made quite the profit on the SNB intervention, but this market is rotten. Anything can happen. All that is sure is that PMs will win out in the end and unbacked ETFs will crumble.
"his magic bag of tricks" ?
His genocidal bag of financial weapons of mass destruction.
Six demon bag
Empty nut sack!
Operation twist still sounds like some kinky nipple twister
Chubby checked into the clinic
the naton's citizens more cynics
healthy heart rates not on the list
just raising rates with operation twist
systems broken in the fat man land
exorcise and work, they don't understand
Yeah, He Who Can Print, will announce an ABYSSmalBag!
Pandora's box of tricks
Gold diving everyday at the same time like clockworks.
Ones JP Morgan manipulators get to their computers in 8 AM Look at it..
Operation Twist....ah yes. The shell game continues.
FOMC, what an oxymoron. It should instead be FMMC (Federal Manipulated Market Commitee).
Fraudulent Openly Manipulative Criminals.
I think the prudent, academic will do nothing. He wants the markets to crash so he can be on the cover of Time magazine again. That bearded bastard.
Bernanke speaks today. Early action sees EURUSD making a move lower. A bearish trend channel has been formed with downside price action http://bit.ly/pe7pTO. This should impact equities.
Bernanke day. The USD is showing strength across the board. This should negatively impact equities. The AUDUSD should have the most downside movement in a risk off environment. bit.ly/ruzDh2
wedding dresses 2012 ukwedding dresses under 100discount evening dressescheap prom dressesfomal cocktail dressesbridesmaid dresses canadaprom dresses 2012 evening dresses under 100fashion dresses cheapwholesale wedding dressesRed Sweetheart Evening Dressuk wedding dresses for saledress2saleevening dresses ukformal evening dressesparty prom dressesholiday cocktail dresses juniorsShort Sexy Cocktail Dressjunior prom dressesbeach wedding dressesunique wedding dressesinexpensive bridesmaid dressesevening dresses 2011 fashion lace wedding dressesred evening dressesfashion dressesmodern wedding dresseswholesalE wine rackscheap bridesmaid dressesparty cocktail dressesprom dresses 2012blue prom dressesBlue Strapless Prom Dress dressupforever.comwholesale dresses