Currencies
Gene comments on stock, bond, dollar, oil & gold markets, with a particular emphasis on monetary policy, technology issues and S&P intraday action. The yield curve also steepenedmarkedly.That was a shot in the arm for the dollar, which had been buckling under the weight of rapidly expanding U.S. budget and trade deficits. The crypto expert at Ark Investment Management believes Bitcoin is a multi-trillion dollar opportunity over the long-term.
Oil
If we look at the core consumer price index, stripping out the impact of oil s collapse 12 months ago, we can see a clear trend. West Texas Intermediate (WTI) was down 31 cents, or 0.5%, to$65.77 a barrel, having risen 1.2% in the previous session.
United States
Blog To sustainably reach its inflation target, the Fed must raise inflation expectations – and that likely will require a period of above-target inflation. U.S. stock futures strengthened, with Nasdaq-100 futures standing 0.4% higher and S&P 500 futures adding 0.3%. For now, we don’t expect Fed officials would overreact to one month of volatile employment and inflation data. The CPI report will also make the U.S. Fed’s job more challenging, as some market participants question their view that price pressures will ultimately prove transitory.
As will bets on when the Fed may hike rates and on how long it could take for inflation readings to settle down. As a result, the Fed will remain patient (for further insights, read our recent Viewpoint, “The Great U.S. Inflation Head Fake”). Tiffany Wilding March 2021 Blog The lack of market reaction suggests that many investors are not convinced that the Fed’s new guidance represents any material shift in policy.
This time it really is different, but not in the way the Wall Street shucksters are claiming. His views have been quoted in Barron’s, the Wall Street Journal, on CNN and now on his own ingerletter.com web site.
As will bets on when the Fed may hike rates and on how long it could take for inflation readings to settle down. As a result, the Fed will remain patient (for further insights, read our recent Viewpoint, “The Great U.S. Inflation Head Fake”). Tiffany Wilding March 2021 Blog The lack of market reaction suggests that many investors are not convinced that the Fed’s new guidance represents any material shift in policy.
This time it really is different, but not in the way the Wall Street shucksters are claiming. His views have been quoted in Barron’s, the Wall Street Journal, on CNN and now on his own ingerletter.com web site.
Europe
France is threatening to hold up British access to European Union financial markets until the issue of fishing is solved.
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