Spotlight on Fed’s Balance Sheet Plans

The Fed has had ample time to reduce its massive $4.5 trillion balance sheet.

Fed Balance Sheet Unwinding Expected “Relatively Soon”: Let the Debate Begin

As expected, today’s FOMC meeting came with zero surprises. In addition to its standard boilerplate about inflation, the Fed stated it would begin balance sheet normalization “relatively soon”.

Chart of the Day: 3-Month Treasury Yield Surpasses S&P 500 Yield

For the first time in a decade, the yield on three-month treasuries exceeds that of S&P 500 dividends.

Gap-and-Crap Comparison: Spain Ibex vs. S&P 500

Inquiring minds just may be interested in a gap-and-crap comparison of the the S&P; 500 index, the Spain Ibex index, and the Euro.

Fed Minutes Show Reliance on Consumer Confidence, Sentiment, Soft Data: Balance Sheet Normalization

Schedule Set (It Won’t Be Met). The Fed released the Minutes of June 13-14 FOMC meeting today.

Balance Sheet Reduction Starts October: Like “Watching Paint Dry”

As expected the Fed will begin balance sheet reduction in October.

Fed Lays Out Plan to S L O W L Y Reduce Balance Sheet: How Long Will It Take?

In addition to hiking today, the Fed announced its Plan to Shrink Asset Holdings Beginning This Year.

Albert Edwards “Fed is a Slave to the S&P 500”: Would Kevin Warsh Change That?

Society General’s Albert Edwards was at the Bank Credit Analyst annual conference in New York last week.

Brexit Tracker Battle: Financial Times vs. Economist vs. Bloomberg

In addition to competing GDP “Nowcasts” between the Atlanta Fed and the New York Fed, at least three financial sites offer a “Brexit Tracker” using that name.