While the stock market may be an exclusive club for its members currently, the combined issues of debt, deflation, and demographics is a problem the Fed can’t fix...
There is a new buzzword in town: ‘Gamma Flip’... explains (due to a lack of any sane explanation for current market behaviour) why the S&P seems stuck at practically all-time highs and what might happen if things turn bad...
This was the first term repo since the start of the Fed's emergency repo program that covered the year-end "turn" with a maturity of Jan 2, and was not fully overalotted.
The BOE's Monetary Policy Committee voted 7-2 (as expected) in favor of maintaining rates at 0.75%, with doves Jonathan Haskel and Michael Saunders voted in favor of a 25bps cut.
"We have recently identified that an audio feed of certain of the Bank press conferences has been misused by a third party supplier to the Bank since earlier this year to supply services to other external clients."
Fed Chairman Jerome Powell states that the markets are doing great, things are moving along nicely, and the economy is growing at a healthy pace. This is great news, and clearly the stock market reflects this very much "real" reality.
