Federal Reserve

By Marc Chandler This first appeared on Marc's site, Marc to Market In the iconography of Mao, some see pictures of the Chairman showing both ears as signaling that he was listening to all the people.  In this sense, Powell had his Mao…

Two issues I mentioned yesterday need some clarification. Trump will declare a state of emergency for the Wall The first is the shutdown. It's this quote that needs clarification: The longer the shutdown goes on, the more damage it will do.…

On today's market action Today saw the S&P 500 rise for the fourth straight day, the longest up-streak since September. And that puts us up 10% since Christmas Eve. Crude is rallying too , with WTI gaining almost 5% on the day to…

The Brexit news is coming hot and heavy now. The latest out of the UK is that House of Commons Speaker John Bercow has allowed an attempt to force Prime Minister Theresa May’s hand on the Brexit deal. The Commons Speaker will allow MPs to…

I mentioned earlier today that Federal Reserve Chairman Jerome Powell had a joint discussion with former Chair Janet Yellen and former Chairman Ben Bernanke at the American Economic Association and Allied Social Science Association 2019…

At 10:15 this morning, Federal Reserve Chairman Jerome Powell had a joint discussion with former Chair Janet Yellen and former Chairman Ben Bernanke at the American Economic Association and Allied Social Science Association 2019 Annual…

I am doing my 2019 outlook pieces now. And I plan on making some market outlook comments in the coming days. But, what's going on in the market right now is equally important. As the stock market takes a battering due to concerns about…

I want to talk a little about price action in asset markets this week. But, since I am on holiday, I am going to keep this short. Most of the focus has been on equities, where volatility has increased. But I am looking at this as more of a…

Bullish Treasury curve action Lost in the relief over the rally in US equities today was the price action in US government bonds. And it was good. Even before today, as the middle of the curve inverted, the Treasury curve had been…

I want to go back to my theme of just over a week ago about the resiliency of the US economy. That's because, regardless of one-day -- or even multi-day -- stock market gyrations, the real economy is the defining issue for markets.…