The stockmarkets took a real rollercoaster ride the week of February 5, with the Dow Jones plummeting more than 1,100 points in a single day’s trading on February 5, the most severe decline in its history in number of points, although only 4.6% in relative terms as compared to the… Read More »
In its policy statement, the Fed subtly upgraded its outlook for inflation and said conditions would warrant “further” interest rate increases, suggesting to us that a policy rate hike at the March meeting is all but a foregone conclusion. Despite No Marked Shift in Policy, We Still Find Interpretive Value… Read More »
In reaction to today’s US Federal Open Market Committee (FOMC) meeting, Lee Ferridge, head of multi-asset strategy for North America at State Street Global Markets, Sophia Ferguson, senior portfolio manager for active fixed income and currency at State Street Global Advisors and Antoine Lesné, EMEA head of ETF strategy at… Read More »
State Street Global Exchange today released the results of the State Street Investor Confidence Index® (ICI) for January 2018. The Global Investor Confidence Index increased to 102.1, up 6.4 points from December’s revised reading of 95.7. Investors across all regions showed an improved appetite for risk, with the European ICI… Read More »
As was expected, the ECB has refrained from announcing any change to its monetary policy settings. The strength of the euro was recognised with Mario Draghi mentioning exchange rate volatility quite early in the introductory statement but he did not push more against this trend. The question about the strategy… Read More »
State Street Global Exchange today released the results of the State Street Investor Confidence Index® (ICI) for December 2017. The Global Investor Confidence Index decreased to 94.8, down 1.5 points from November’s revised reading of 96.3. The fall in sentiment was driven by a 6.2 point drop in the North… Read More »
Jerome Powell nomination as President of the Federal Reserve has not created a disruption*. He was in Janet Yellen’s line on macroeconomics and on monetary policy. Nevertheless he is perceived as more market friendly on regulation than Yellen. He is perceived as someone who will maintain low interest rates and… Read More »
Anna Stupnytska -
Jerome Powell’s appointment as Fed chair represents policy continuity in the near-term, suggesting a slightly easier monetary stance than some other contenders for the role. Powell’s background is in Law, rather than Economics. Unlike recent Fed chairs such as Ben Bernanke and Janet Yellen, he has not advanced any theory… Read More »
The Bank today reversed the interest rate cut that they made in August last year, increasing rates for the first time in ten years to 0.5%. The impact of this hike on households looks to be minor in the context of a variety of fiscal changes that are in train.… Read More »
As expected the Bank of England (BoE) announced a 25bps rate hike, the first for a decade, and voted unanimously to maintain the stock of purchased assets at current level. In line with recent policymaker comments, we expect policy changes beyond today’s modest tightening to be “gradual” and “limited”, and… Read More »
Podcast