First comes the shock to T-Bill yields, then comes the shock to jobless claims. pic.twitter.com/DWIf9dN7S6
— Jeff Weniger (@JeffWeniger) November 1, 2023
This is THE US tightest monetary policy seen since the 1980s
Something is bound to break pic.twitter.com/vbr6Y44x3r
— Game of Trades (@GameofTrades_) November 1, 2023
S&P 500 closed just under the 200D moving average. Funny how that happens. pic.twitter.com/ZDnRV5texS
— Barchart (@Barchart) November 1, 2023
It's not just about how high the Fed hikes, but equally if not more important is how long they keep rates high as well as how far they run down their balance sheet.
— Markets & Mayhem (@Mayhem4Markets) November 1, 2023
Potential bearish setups across the board $NQ $ES
Yields down sharply on low job creation. pic.twitter.com/PR11n03Yy3
— Don Johnson (@DonMiami3) November 1, 2023
Bonds are now significantly more attractive than stocks
You can tell the macro environment is changing when taking more risk results in lesser compensation pic.twitter.com/3p5qh02tdy
— Game of Trades (@GameofTrades_) November 1, 2023
Fed Keeps Rates at 5.50% Highest Level Since 2001, Rate Hike Still on the Table. QT Continues
The FOMC held policy rates steady with the federal funds rate target range at 5.25%-5.5%. This pause follows a cumulative 525 basis point hike in the current cycle. While the Fed left the door open for future hikes, it continues quantitative tightening, capping Treasury roll-offs at $60 billion and MBS at $35 billion monthly. The next economic projections in December will clarify expectations for potential rate cuts, as current projections delay cuts until the second half of 2024. Concerns persist about the impact of tighter credit on the economy.