Heading into a new week, bulls remain confident, buoyed by technical indications and market internals. A rate hike is likely and the commentary surrounding it could spoil the party. The technical picture remains encouraging for bulls, as the major indices seem to be on track to leave behind the 3-month long correction. The Dow, the S&P 500 and the Nasdaq are all above their 50- and 200-day moving averages, and thanks to the recent rally, ...
Following the decision by the U.S Federal Reserve’s (Fed) Open Markets Committee not to raise interest rates following its two-day meeting, the expectation by the market of an interest rate hike at the end of this year in December is put at 67%. The FOMC has set October for balance sheet reduction. more...
Ben Bernanke waited for certainty before making changes to monetary policy. Under Bernanke, the Fed took far longer than expected to taper its third round of bond buying. Yellen and members of the FOMC, although they would surely send markets scrambling, might not be entirely crazy to ask for more time before raising rates. Two justifications for raising rates are steady jobs gains over the course of 2015, which have brought the unemployment ...
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