"As the 2-year yield reprices higher and the 10-year holds steady, flattening the curve, markets aren’t convinced the 75 bps of easing will be a sufficient mid-cycle adjustment."
After an initial dump, equities are back at the day's highs after The Fed's cut-and-pause statement. Bond yields are down, the dollar is up, and gold is down...
"... year-end financing rates are expected to be volatile again owing to regulatory capital constraints primarily on the global systemically important banks."
Shrugging off last week's surprise draw, DOE data completely reversed API's, reporting a 5.7mm barrel build (and a 4th straight week of builds at Cushing)...
Another goldilocks report, which while hardly confirming the "greatest economy in American history", gave the Fed green light to proceed with more rate cuts today at 2pm.
One well known Tesla skeptic has taken the time to lay out, in wonderful detail, the financial pressure that SolarCity's tanking stock price was putting on the company's directors - specifically, Elon's brother Kimbal Musk...
