September Summary News Today

New regime of higher for longer inflation, elevated interest rates, and slower economic growth are setting the context for stock and bond markets BALTIMORE, Nov. 14, 2023 /PRNewswire/ -- T. Rowe...

The Federal Reserve is not buying the optimism about the economy that the White House has been marketing under the brand Bidenomics.

COMEX Gold prices saw a significant drop due to a surge in US treasury yields, resulting in the largest weekly loss in months. The US central bank indicated another rate hike before the end of the year and signaled fewer rate cuts for the following year. Strong economic data, including increased durable goods orders and low unemployment claims, supported the Federal Reserves hawkish stance. The rebound in US home prices and rising energy prices also raised inflation concerns.

The Fed hit the pause button at its September meeting, keeping interest rates within the 5.25%-5.50% range, but indicating the potential for one more hike and less easing over the forecast horizon.

While the S&P 500 jumped its tight range and 200-day SMA, the Dollar was noticeably more reserved in its retreat – the PCE deflator ahead could materially change that backdrop

Officials at the central bank have recently shown a rare unanimity about the need to bring fed funds rates to the level indicated in the dot plot.

The US October CPI is the most critical data point in the week ahead. The November CPI will be reported the day before the FOMC meets again on December 14.

Rates markets are set on a 75-bps rate hike this week.

Rates markets see greater than a 100% chance of a 75-bps rate hike in November.

The U.S. economy added 263,000 new jobs in September, down from an upwardly revised print of 537,000 in ...