When Does the Tweet Storm Begin?
Not Yet, Just Howls From Yesterday
Transitory Inflation?
Declining Inflation?
Political Correctness
Stocks and Bonds Reverse
The stock and bond markets did not react well to Powell’s press conference.
5-Year Bond Reaction
Gold Reaction
Unhappy With Powell
- Stocks
- Bonds
- Gold
- Trump
An initial dovish-appearing statement reversed at the press conference.
Mike “Mish” Shedlock
Markets selling good news now?
This administration sure turned out to be a multi-story out house.
In the words of iron Mike Tyson,pretending works until you get punched in the face by reality,now el presidente is seeing his reelection chances slip away.Can he perform a miracle like Obama by getting reelected without accomplishing much, if anything in his 1st term?Barak had the blacks and Hispanics so no matter how inept or incompetent they supported him,Trump ….not so much.
“Barak had the blacks and Hispanics so no matter how inept or incompetent they supported him,Trump ….not so much.”
That is so unfair ! Does no one else see the inequality here?
This ‘good cop, bad cop’ game is going to end in tears for both the Fed and Trump.
Pretty obvious where this is going. With the economy rapidly slowing, inflation pretty much dead, and yield curve inversion always destroying banking system capital…
Powell knows the next round of cuts are going to go deeper than ever before (negative) so he’s understandably trying to delay. We’ve all noticed the tenures of these Fed chairs are getting shorter, maybe Powell thinks he can pass this hot potato before the NIRP era?
Or simply a case of Powell stamping his ‘independence’ on proceedings: “ I am my own man, not dictated to by markets or Presidents!”
Let’s “wait and see” how big a hissy-fit Mr. Market has to throw before Powell changes his tune. That triple-top on the S&P is rather ominous looking.