Bloomberg:
"We’re not even thinking about thinking about raising rates,"
“We are strongly committed to using our tools to do whatever we can for as long as it takes.”
"The Federal Open Market Committee earlier said it would increase its holdings of Treasury securities and agency residential and commercial mortgage-backed securities “at least at the current pace” to sustain smooth market functioning.
A related statement from the New York Fed specified that the pace of the balance-sheet increase would be maintained at about $80 billion a month for purchases of Treasuries and about $40 billion of mortgage-backed securities."
So if I am understanding that correctly, a third of the spend is going on propping up property lending...? Haven't bothered to look but wonder where the credit rating agencies are now?
I am thinking Zimbabwe...
DJ down 1%...
Many did not, Pets.comIt actually worked out OK as I kept my job and was granted options at single figures!
I know of people who remortgaged their house to buy more and more tech stocks on the way up in 99, then BANG!! They were in Ireland as well so the house was suddenly worth £4.50 as nobody had a job.
For a moment I read that as Beer Market Rally - now that would be dangerous as I had visions of multitudes of private investors stuck at home, hitting the beer and going on mad stock buying sprees.Bear market rally...very dangerous
Here we go maybe...
FTSE down 4% at the close and DJ down >5% now.
Tomorrow might be interesting.
That is some selloff today Probably see it back up 5% tomorrow, can't let the tradees have a glum weekend.
"The Federal Reserve is wrong so often. I see the numbers also, and do MUCH better than they do. We will have a very good Third Quarter, a great Fourth Quarter, and one of our best ever years in 2021."
POTUS tweet a few hrs ago.....good, everything's OK then, he confirms it.