EQUITIES DRIFTED LOWER following an announcement from Federal Reserve President Jerome Powell stating “my colleagues and I are grappling with is whether these uncertainties will continue to weigh on the outlook and thus call for additional policy accommodation“. Currently Wall Street believes there is a 65.7 percent chance of a 25 basis point cut and a 35.4 percent chance of a 50 basis point cut. The 10-year note fell 2.8 basis points settling below 2 percent. S&P -0.95%, DOW -0.67, NASDAQ -1.51%.
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EQUITIES DRIFTED LOWER
following an announcement from Federal Reserve President Jerome Powell stating
“my colleagues and I are grappling with is whether these uncertainties will continue to weigh on the outlook and thus call for additional policy accommodation“. Currently Wall Street believes there is a
65.7 percent chance of a 25 basis point cut and a 35.4 percent chance of a 50 basis point cut.
The 10-year note fell 2.8 basis points settling below 2 percent
. S&P -0.95%,
DOW -0.67,
NASDAQ -1.51%.
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BRITAIN’S AUTOMOTIVE INDUSTRY FEARS an abrupt Brexit will
cripple the already deteriorated industry
by adding billions of pounds in tariffs. The sector is facing its
steepest downturn since 2012
with production in some plants grinding to a halt
. “Leaving the EU without a deal would trigger the most seismic shift in trading conditions ever experienced by automotive
.”
FTSE 100 -0.04%,
German DAX -0.32%,
CAC 40
-0.05%,
STOXX Europe 600
-0.12%. The
10-year
Gilt slipped 2.3 basis points.
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INVESTMENT-GRADE DEBT ROSE SIGNIFICANTLY AGAINST JUNK BONDS in net prices linked to actual trades. Gold prices breached six-year highs settling above $1,400 an ounce following the Fed’s dovish tone after last week’s meeting. The 10-year note fell 3.9 basis points. S&P -0.09%, DOW +0.12, NASDAQ -0.23%.
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INVESTMENT-GRADE DEBT ROSE SIGNIFICANTLY AGAINST JUNK BONDS in net prices linked to actual trades.
Gold
prices breached six-year highs settling above $1,400 an ounce following the Fed’s dovish tone after last week’s meeting.
The 10-year note fell 3.9 basis points
. S&P
-0.09%,
DOW +0.12,
NASDAQ
-0.23%.
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ITALY’S DEPOSITOR PROTECTION FUND, FITD rejected a plan backed by
Apollo Global Management
to salvage the distressed Carige bank. The FITD stated they would consider a solution involving private equity in tandem with the
banks' current shareholders; Carige bank has a
capital deficit of 630 million euros.
FTSE 100 +0.13%,
German DAX -0.62%,
CAC 40 -0.19%,
STOXX Europe 600 -0.29%. The
10-year Gilt dipped 3.2 basis points.
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INVESTMENT-GRADE BONDS LURE over $3.65 billion of net inflows in the week ending on Wednesday marking the
third consecutive week of inflows. Analysts expect the inflows to continue as the
Fed’s dovish tone suggested interest rates will rise in the future.
Gold
jumped nearly 4 percent approaching 5-year highs as the Fed deviated from the “patient” stance on monetary policy.
The 10-year note fell 0.06 basis points
. S&P
+0.95%,
DOW +0.94,
NASDAQ
+0.80%.
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INVESTMENT-GRADE BONDS LURE over $3.65 billion of net inflows in the week ending on Wednesday marking the third consecutive week of inflows. Analysts expect the inflows to continue as the Fed’s dovish tone suggested interest rates will rise in the future. Gold jumped nearly 4 percent approaching 5-year highs as the Fed deviated from the “patient” stance on monetary policy. The 10-year note fell 0.06 basis points. S&P +0.95%, DOW +0.94, NASDAQ +0.80%.
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THE ITALIAN GOVERNMENT
PROPOSES
to use 5.2 billion euros in order to reduce the
budget deficit
for 2019 and avoid EU financial sanctions.
Crude oil prices surge
following Iran shooting down a US military surveillance drone in the
Strait of Hormuz rattling the oil markets
. The
pound rose 0.44 percent
against the
dollar
and
slipped 0.25 percent against the
euro
.
FTSE 100 +0.62%,
German DAX +0.80%,
CAC 40+0.71%,
STOXX Europe 600
+0.64%. The
10-year
Gilt lost 4.8 basis points.
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THE FEDERAL RESERVE HOLDS THE CURRENT INTEREST RATES but suggests a rate cut on the horizon if the economy slows down. The Federal Reserve Chairman, Jerome Powell indicated they “will act as appropriate to sustain the expansion” going on 10-years and refrained from mentioning the word “patient”. Treasury yields dipped following the Feds announcement, the 10-year note fell 2.1 basis points. S&P +0.41%, DOW +0.29, NASDAQ +0.40%.
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