1818 - back to that 2011 spike and closing high following fed Jackson hole annual statement and love fest
last year we had the new inflation targeting of 2 percent over the long term but we won’t tell you what long term is as we don’t think it helpful but we won’t raise interest rates if core inflation goes over 2 percent - enter the regulation trade - commodities went nuts - today core is well over 2 percent
this year after marching out a band of non voting members all week suggesting reduction in asset purchases per month - last night we had three voting members all suggesting same thing
out come the chair speech at 10am
inflation is above target but we have more work to do in regards to employment
reduction in asset purchases should happen this year- no details- and rate rises are some time away- economy doing well but we are focused on employment now and delta covid is a risk - but signal to all the markets and other central banks- rate rises are a way off
gold bounce
Well pretty much everything bounce as can kicked back from where market thought
Commodities upski
yes taper is coming but rates a way off
speaking of rates - usd 10 year down- supporting commodities and gold moves
so markets cheer- new record
Repo handouts of trillion plus dished out
so we waited all week - much brokerage was generated - next stop taper announcement in September - speculation back on
signal will probably now help China cut its rrr again sooner rather than later
crazy days - speeches of riddles for the markets to speculate on
gold ETFs did well like basically everything else
so if your in oz you can go to sleep now and wake up at 11 am for some Local premier dribble on the telly if you didn’t get enough from fed overnight
signals last night make me speculate oz rates won’t move soon either
