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Pedal To The Metal?
The FOMC held rates at 4.25 - 4.5% as expected. Governors Waller and Bowman dissent in favor of a 25-bps cut. That's the first time since 1993 that two Governors dissented from the policy decision.
The Fed lowered its growth outlook, saying that “growth of economic
Duration Cracks, who cares what about my equities and crypto?
While the US equity markets had been trading "as if" the US is no longer a top-tier credit for some time, Moody's formal downgrade last Friday reinforces that perception and introduces constraints for investors bound by ratings-based mandates.
https://www.reuters.com/business/finance/moodys-downgrade-ripples-through-bond-market-causes-worries-stocks-2025-05-20/
The
From Left-Tail to Left Sidelined
Markets are scrambling to recalibrate after an unexpected, dramatic rollback from the U.S. and China over the weekend. In a move that exceeded expectations, the U.S. slashed tariffs on Chinese imports from 145% to 30%, while China reciprocated with a drop from 125% to just 10%.
Disclaimer: I