The Fed has surprised for the second time in a row, by Blackfort CIO Dr. Andreas Bickel

 

The Fed has surprised for the second time in a row, by Blackfort CIO Dr. Andreas Bickel

The Fed has yesterday over delivered for the second time in a row: Not only will there be no rate hike in 2019 but also the balance sheet reduction will slow in May and end completely in September 2019. US Treasuries rallied and the US-dollar depreciated. Interesting to see that the death cross which has indicated lower US 10-year yield levels (posted some weeks ago) has worked out! We are roughly 20 basis point lower. Meanwhile the S&P 500 trades in its new trading range (ca. 2’800 – 2940). After the Fed got even more dovish, we might test its all-time high from last year during the next weeks.

 

 

Source: https://www.linkedin.com/feed/update/urn:li:activity:6514530614597681152

Published: 21.03.2019 by Blackfort CIO Dr. Andreas Bickel

 

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