Wall Street reacted little - as did the T-Bonds - to the announcement of the 'unanimous' decision to keep rates unchanged.

The FED notes that growth remains 'rapid' ('solid pace') and that job creation and consumption remain robust ('at a high level), while inflation has stopped falling and there have been no further signs of improvement in recent months.
The FED also decided to reduce the pace of its quantitative tightening (or QT) from $60bn/month to $25bn/month (versus the anticipated $30bn/month), while MBS resales remained unchanged at -$35bn/month.

US indices remained a little hesitant after these announcements, then recovered slightly after 1/2 an hour, but the real trend will be given later this evening by the elements that will be communicated by Jerome Powell during the press conference that has just begun at 8:30 p.m.

T-Bonds, which had eased since the market opened, are stagnating at the levels they were at with the official press release: the '10-yr' is down 4 to 5 points at 4.63/4.64%, while the '2-yr' has fallen back below the symbolic 5% threshold (from 5.046 to 4.998%).





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