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We start feeling the cracks in market optimism: the bonds extended their rally yesterday after the inflation data in Britain surprised to the downside, but major US indices saw a sharp retreat. A 12% plunge in FedEx – which acts like a gauge of economic activity, the overbought market conditions in major global stock indices and the awareness that a further fall in bond yields weaken the idea of soft landing triggered a much-needed retreat in equity valuations.
We know that a further correction in equity valuations is on the cards. We just don’t know what the trigger will be....

Federal Reserve’s (Fed) Thomas Barkin’s words that suggested that the Fed could cut rates if recent progress inflation continues sent the Nasdaq 100 to a fresh record for the 3rd consecutive day and the S&P500 to a fresh ytd high and near an ATH record as well.
Yet, the latest FedEx results didn’t enchant investors yesterday. The company, which serves as a gauge of economic activity, missed expectations due to declining airfreight and trucking volumes. The stock price fell 7% after the closing bell.
On the data dock, the latest housing data in the US showed that housing starts jumped...

The week started with mixed feelings. Investors broadly ignored the Federal Reserve (Fed) members’ latest warnings that the interest rate cuts won’t come as soon and as fast as priced in by the financial markets. Equity bulls look determined to keep the Xmas magic alive. Big banks like Goldman Sachs also add fuel on fire, citing that the dovish Fed is good for stocks. We all agree. Dovish Fed is good for stock valuations, yet, how long the Fed could remain dovish if the economy heats up? It depends…
Yesterday’s trading was marked by geopolitical tensions and news. The week...

The Federal Reserve’s (Fed) rate cut talk is getting chaotic and frankly, hard to follow. After the Fed signaled a possible end to its monetary policy tightening campaign and the European policymakers refused to adhere, some Fed members including John Williams and Raphael Bostic pushed back the Fed cut expectations.
But anyway, investors could give the Fed doves the benefit of the doubt until Friday’s PCE data. The PCE, the Fed’s favourite gauge of inflation, is expected to show a further decline in both headline and core inflation.
Elsewhere, the Bank of Japan (BoJ) will announce the year’s final policy...

The European Central Bank (ECB) and the Bank of England (BoE) refused to join the Federal Reserve (Fed)-thrown pivot party. Both Christine Lagarde and Andrew Bailey declined to discuss cutting interest rates judging a policy loosening too early as the inflation threat looms. BoE’s Bailey pointed at the possibility of another rate hike, as three MPC members favoured hiking rates, while the ECB announced to accelerate EXIT from the PEPP stimulus, and the Norges Bank popped up with a surprise rate hike.
As a result, the rally in global stock and bond markets slowed. The euro and sterling rallied.
Note...

The Federal Reserve (Fed) wraps up the year with a resounding finale. The Fed is not bothered to see the US yields fall in preparation for a rate cut. On the contrary, they endorsed the idea of a policy pivot thanks to an encouraging fall in inflation and sounded way more dovish than everybody expected at their announcement yesterday – which clearly exposed that the policy pivot is coming.
The US sovereigns rallied, the Dow Jones hit a record, the US dollar tanked.
Now today, it’s the European Central Bank (ECB) and the Bank of England’s (BoE) turn to give...

Two absolute gems in this potential bullrun seem to be Avalanche and Solana. What's behind their strong performance?

00:00 Intro
00:22 Preview
00:38 Bitcoin
04:02 Ethereum
06:19 Solana
07:49 Avalanche
10:03 Subscribe & Good bye

#crypto #cryptonews #cryptotrading #swissquote

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US headline inflation fell to 3.1% on a yearly basis as expected, but headline inflation was slightly higher-than-expected on a monthly basis. And that small uptick has raised suspicions that the Federal Reserve's (Fed) final stretch in combating inflation may be more challenging than anticipated.
The latter triggered a mini selloff in the 2-year bond right after the data, yet the selloff didn’t last long. The US 2-year yield is about where it was yesterday morning.
With the latest inflation report behind us with minimal fanfare, the Fed officials will lightheartedly keep interest rates steady this month. Economic forecasts and...

The week started on an optimistic note ahead of today’s US inflation update, tomorrow’s FOMC decision and Thursday’s European Central Bank (ECB) and Bank of England (BoE) decisions. The US 2-year yield advanced to 4.77% and the 10-year yield tested the 4.30% resistance, but both are down this morning, as bond investors lie in ambush before the US inflation update that will hit the headlines in a couple of hours from now.
Headline CPI in the US is expected to have steadied on a monthly basis thanks to subdued energy prices and the yearly figure may have eased from 3.2%...

Friday’s jobs report from the US was strong. The stronger-than-expected jobs data sent the US 2-year yield to near 4.75%, and the 10-year yield recovered to 4.28%, but the stock traders gave a cheerful reaction to the news that the US jobs market is softening, not collapsing. The latest data suggests that the Fed is one step closer to realizing its Goldilocks scenario: it could win the inflation battle without pushing the economy into recession. Is it too good to be true? This week’s inflation update and the Fed decision will tell.
The economic calendar for the week is heavy....