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Thoughts about the Price Action

March 24, 2019
The Federal Reserve was more dovish than expected, but that did not stop the dollar from appreciating against most of the major currencies last week.  Even the Norwegian krone, which one would have thought would have been better supported following the central bank's rate hike, closed lower on the week. Among the majors, the yen and Swiss fran…
Thoughts about the Price Action Thoughts about the Price Action Reviewed by Marc Chandler on March 24, 2019 Rating: 5
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The Week Ahead

March 22, 2019
The combination of the dovish hold by the Federal Reserve and the eurozone's miserable flash Purchasing Managers Index casts a pall over the economic outlook.  Japan's flash PMI remained stuck at February's 48.9, while core inflation unexpectedly eased.  Three months after the European Central Bank stopped buying bonds, the German 10-y…
The Week Ahead The Week Ahead Reviewed by Marc Chandler on March 22, 2019 Rating: 5
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Dreadful EMU PMI and US Machinations Rival Brexit for Attention

March 22, 2019
Overview:  The S&P 500 recovered from the post-FOMC reversal to close a new 5-month high yesterday, led by technology.  Financials were the only main sector to retreat.  The large equity markets in Asia, Japan, China, Australia, South Korea, and Taiwan all advanced.  Europe's Dow Jones Stoxx 600 reversed its initial gains and is nursing a …
Dreadful EMU PMI and US Machinations Rival Brexit for Attention Dreadful EMU PMI and US Machinations Rival Brexit for Attention Reviewed by Marc Chandler on March 22, 2019 Rating: 5
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Dovish Fed Sends Global Yields Lower, but Little Succor for Stocks

March 21, 2019
Overview:  The dovishness of the Federal Reserve sent ripples through the capital markets.  US equities reversed initial gains, but Asia Pacific equities edged higher, though Japanese markets were closed for a national holiday.  European shares are struggling, as financials and consumer discretionary lead the 0.3% push lower.  US shares are also t…
Dovish Fed Sends Global Yields Lower, but Little Succor for Stocks Dovish Fed Sends Global Yields Lower, but Little Succor for Stocks Reviewed by Marc Chandler on March 21, 2019 Rating: 5
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FOMC: Above Trend Growth Requires Continued Monetary Support

March 20, 2019
The Federal Reserve sounded more dovish than many expected and this prompted a 5-7 bp drop in US rates, and the dollar fell to new lows for the week against many of the major currencies.  The median Fed forecast now anticipates no hike this year but one next year.  The Fed will also taper the roll-off of its balance sheet and completing it by the …
FOMC: Above Trend Growth Requires Continued Monetary Support FOMC: Above Trend Growth Requires Continued Monetary Support Reviewed by Marc Chandler on March 20, 2019 Rating: 5
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Brexit Drama Continues but Fed Moves to Center Stage

March 20, 2019
Overview:   US stocks were not able to hold onto early gains yesterday, and this has helped set the stage for today's heavier bias.   Asia Pacific markets were narrowly mixed, with Japan and Korea eking out small gains while China and Taiwan slipped a little.  Europe's Dow Jones Stoxx 600 is threatening to snap a five-day advance as materi…
Brexit Drama Continues but Fed Moves to Center Stage Brexit Drama Continues but Fed Moves to Center Stage Reviewed by Marc Chandler on March 20, 2019 Rating: 5
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Third Vote on Withdrawal Bill Scuppered Until after EU Summit

March 19, 2019
Overview:  The capital markets remain subdued.  Many Asian equity markets eased after a strong two-day advance.  European equities are slightly firmer.  The S&P 500 closed at new five-month highs yesterday.  Benchmark 10-year yields are mostly a little softer.  Australian 10-year bond yield fell five basis points, and the discount to the US wi…
Third Vote on Withdrawal Bill Scuppered Until after EU Summit Third Vote on Withdrawal Bill Scuppered Until after EU Summit Reviewed by Marc Chandler on March 19, 2019 Rating: 5
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