Federal Reserve

The U.S. jobs picture has certainly deteriorated in recent months and many questions overshadow both the U.S. and Eurozone recovery. This morning, German Ifo Business Climate and Expectations data all fell short of estimates
Sentiment has flipped as traders anticipate Janet Yellen’s Congressional confirmation hearing for U.S. Treasury Secretary before the Senate Finance Committee today. Here, she’s expected to sell Biden’s $1.9 trillion package in order to fast-track it with a 60-vote supermajority in the Senate.
With unprecedented amounts of stimulus splashing around, it’s only a matter of time before inflation shows up.
From U.S. equity benchmarks to Platinum and Soybeans, many asset classes began surging higher at the Sunday night open before volatility ensued at 8:30 a.m. CT.
Now that the quadruple witching cleansing has played out and news of Congress passing the coronavirus aid bill has already sold, are we any less cautious than we were Friday? Not just yet.
Bullish tailwinds are coming from a path forward in Washington, the FDA granting Emergency Use Authorization to Pfizer’s vaccine late Friday, and an extension to Brexit talks.
Other than a continued rise in Covid-19 cases, the 2 major factors driving USD are fiscal stimulus and Brexit.
A slow-developing, yet constant flow of vaccine news continues to lift stocks just as a glimmer of exhaustion may look to set in. Today’s tailwinds have the S&P testing its record high.
The S&P 500 index and Nasdaq-100 incurred a swift wave of selling in the final hour Friday. Pick your poison for the reasoning, but in the end, it was simply a de-risking ahead of the weekend as the Covid-19 pandemic rages on.
President Trump promised an October surprise, but the developments came just one week removed from one of the tightest elections in history. We have been calling for a bull-run post-election, no matter who wins and as long as the country avoided a ‘blue wave,’ as it removes uncertainties from the risk-landscape.