Global equities were under pressure Thursday, as Jerome Powell's perceived reticence on tweaks to the composition of asset purchases, cautious outlook on the economy, and an apparent unwind in crowded dollar shorts, together undercut risk appetite. To be sure, the Fed was dovish. The introduction of outcome-based forward guidance and attendant guarantee that rates will not rise until the Fed hits its goals, can't possibly be construed as "hawkish". Rather, as Powell knows all too well, it is ne

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6 thoughts on “SqueezIt

  1. WHY are Democrats doing ANYTHING to prevent the GOP from driving off their cliff of supposed fiscal rectitude 6 weeks before an election?? If the GOP thinks a conjured vaccine beats a mask and that more tax cuts for the rich are what this economy needs, then Crazy Nancy should let them literally ride and die.

    1. I think it is clear these impasses can cut both ways politically. Support of financial rectitude by the intentionally uninformed masses is a force to be reckoned with. It seems that Nancy is far from ‘Crazy’ these days, shrewd is a much more apt adjective. She is winning the high drama negotiation by forcing her opposition to move towards her position. When they tried to move away were chastised for it. When they move towards it the President becomes a cheerleader.

      1. I understand there are some vulnerable House and Senate Democrats that need protecting, but don’t you feel her standoff with the GOP runs the risk of Trump now urging the GOP to cave/compromise for his personal benefit, as opposed to underscoring his MAGA Kakistocracy? He is positioning himself to be the savior that broke through Nancy’s stonewalling. Now that is a BS narrative, but my guess is all we’ll be hearing is how Trump got us the checks while Crazy Nancy was busy pardoning criminal arsonists all over the state of California.

  2. Market hopes were pinned to fiscal largesse and vacines.
    Redford came out strong in the slow and steady decline of virus through mask mandates and Powell lobbed the hail mary fiscal idea with the clock ticking…. reality is not interested in politics.

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