Charts of the Week
Breaking Down the Fed’s Balance Sheet by Maturity
January 30, 2019
A look at the Fed's holdings of Treasury and agency securities by maturity
A look at the Fed's holdings of Treasury and agency securities by maturity
Year three of a presidential cycle has historically been very favorable for the stock market.
Although the government shutdown has come to a temporary close, a spike in temporary layoffs is likely to show up when the BLS releases its employment report on Friday.
According to GeoQuant, political risk in the U.S. is now on par with that of China.
Despite a 13% rally since the mid-August low, sentiment in gold remains neutral.
The average correlation between individual stocks and the S&P500 is once again on the rise, making the art of stock picking more difficult.
Selected charts and excerpts from our research over the past week
A look at federal debt to GDP since 1791
Will the Fed formally use the words Powell carefully read on January 4 ... "flexible and patience?" If so, this could account for "half a move." No hike at the next meeting unless they drop these words. It's inclusion also means the Fed still wants to hike, just quibbling about the timing.
The Fed and the markets continue to hold different opinions on the impact of balance sheet reductions.
Today's topics include the CNBC survey, the FOMC meeting, recession talk, quants vs the bond kings, earnings, the dollar, crude oil supply and sanctions on Venezuela.