Chief Goon Powell's Conundrum

CGP has painted himself into a corner.

19
Thu, Nov 15, 2018 - 10:35am

What to do if you are an overpaid, ivory-tower Fed Head? You want to keep raising the fed funds rate in order to benefit your owners but, at the same time, your higher rates are driving your stock market lower. Again, what to do, what to do?

Below you can see El Problemo. When the yield on the 10-year note first got to 3.25% back on October 8, the S&P was near 2900. It immediately crashed. The S&P then bounced after bonds rallied, only to crash again when the 10-year reached back up to 3.20%. Last Thursday, the 10-year hit 3.25% and the S&P has since fallen well over...

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Key Economic Events Week of 5/13

TWELVE Goon speeches through the week
5/14 8:30 ET Import Price Index
5/15 8:30 ET Retail Sales and Empire State Manu. Idx.
5/15 9:15 ET Cap. Ute. and Ind. Prod.
5/15 10:00 ET Business Inventories
5/16 10:00 ET Housing Starts and Philly Fed
5/17 10:00 ET Consumer Sentiment

Key Economic Events Week of 5/6

5/9 8:30 ET US Trade Deficit
5/9 8:30 ET Producer Price Index (PPI)
5/9 10:00 ET Wholesale Inventories
5/10 8:30 ET Consumer Price Index (CPI)

Key Economic Events Week of 4/29

4/29 8:30 ET Pers Inc, Cons Spend, Core Infl
4/30 8:30 ET Employment Costs
4/30 9:45 ET Chicago PMI
5/1 8:15 ET ADP jobs report
5/1 9:45 & 10:00 ET Markit and ISM Manu PMIs
5/1 10:00 ET Construction Spending
5/1 2:00 ET FOMC Fedlines
5/1 2:30 ET CGP presser
5/2 8:30 ET Productivity and Unit Labor Costs
5/2 10:00 ET Factory Orders
5/3 8:30 ET BLSBS
5/3 9:45 & 10:00 ET Markit and ISMServices PMIs

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