The S&P 500 hit a new record high on Wednesday, while Treasuries continued to sell off after President Trump announced the tax plan framework, giving the dollar another boost against its major counterparts.
The Jackson Hole Symposium is this week's most anticipated event, in part due to a severe lack of other newsworthy market stories but also because two very important central bankers are scheduled to appear.
A joint meeting of the Federal Open Market Committee and the Board of Governors was held in the offices of the Board of Governors of the Federal Reserve System in Washington, D.C., on Tuesday, July 25, 2017, at 1:00 p.m. and continued on Wednesday, July 26, 2017, at 9:00 a.m.
The latest "saber rattling" surrounding nuclear tensions between the U.S. and North Korea continues to dominate the headlines, and some level of concern about the situation is certainly justified. While we still expect cooler heads to prevail, there's certainly an elevated risk that a miscalculation or miscommunication on either side could lead to disaster.