Central Bank Watch
FOMC Statement Omits Any Definitive Sign that December Rate Hike is Mostly Baked
November 2, 2016
Today’s was a meeting without a scheduled press conference, and the lack of a policy change eliminated any need for a change of plans in that regard. My preview mentioned that the statement might say something definitive about its December meeting; that didn’t happen. In today’s statement, some tweaks were made to the opening paragraph […] More
Central Bank Watch
FOMC Preview
November 2, 2016
This week’s FOMC meeting will culminate with a released statement from the committee at 14:00 EDT from Washington (18:00 GMT). Monetary officials are not issuing new forecasts this time, nor will the meeting be followed by a press conference. The FOMC is not expected to change the 0.25-0.50% federal funds target range, in effect now […] More
Deeper Analysis
Euro Area Factory PMI Rose More Sharply than U.S. PMI in October
November 2, 2016
The U.S. manufacturing purchasing managers index increased 0.4 points to 51.9 last month. While subindices for jobs, prices and production climbed by 3.2, 1.5 and 1.8 points, that for new orders dropped 3.0 points. The PMI level was at a 3-month high, nonetheless. Euroland’s PMI improved 0.9 points to a 33-month high of 53.5. All […] More
New Overnight Developments Abroad - Daily Update
Markets Hedging Against Possible Trump Win
November 2, 2016
U.S. opinion polls indicate a considerably tighter race between Trump and Clinton. International investors are extremely worried about a Trump presidency. Some people are withdrawing cash just in case. Best scenario may be a narrow Clinton victory, continuing Republican control of Congress, stalemated governance in Washington, and the uncertainty of what the Clinton emails might […] More
