Global Macro Perspectives
The target rate remains the same; extended period phrase is here: The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels […]
Crude oil stocks were down 3.7 million barrels for week ending 11 December; Gasoline stocks rose 0.9 million barrels; Distillate stocks fell 3 million barrels; Propane/propylene stocks fell big 4 million barrels; Other oils were down 0.6 million barrels; Total crude oil and petroleum stocks decreased 12.7 million barrels. This is one of the most […]
Asia closed mixed ( Nikkei up, Hang Seng down, Shanghai Composite down) Europe is trading positive 1% on average. Nothing special in the news today. Everybody will be waiting for the FOMC policy meeting decision later today and then analyze every word in the statement. I would put my money on “nothing changes”. Belisarius is puzzled […]
LOL Steve Bell: Someone is going offshore!