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Brexit Weakens Rate Hike Support for Sterling

February 28, 2018
There are three main influence for sterling.  The first is the general dollar direction.  As widely recognized, the greenback was weak last year and this has continued into this year's activity.  After falling in January, the dollar is set to close higher against all the major currencies but the Japanese yen.  Sterling's 2.6% decline (~$1.…
Brexit Weakens Rate Hike Support for Sterling Brexit Weakens Rate Hike Support for Sterling Reviewed by Marc Chandler on February 28, 2018 Rating: 5
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It Takes Powell to Convince the Market that Yellen was Right

February 28, 2018
Many market participants think they heard Fed Chair Powell give a fairly strong signal that he favored a more aggressive course.  The implied yield on the December Eurodollar futures rose five basis points to 1.535%.  The December Fed funds futures contract rose three basis points.  
The market moved not to pricing in a fourth hike this year, but t…
It Takes Powell to Convince the Market that Yellen was Right It Takes Powell to Convince the Market that Yellen was Right Reviewed by Marc Chandler on February 28, 2018 Rating: 5
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Another Reason for the Low VIX

February 27, 2018
Since the Great Financial Crisis and the unprecedented expansion of the balance sheet of many central banks, many investors think that officials are responsible for various distortions that they detect in the capital markets.  The compressed nature of equity market volatility is one of those distortions. 
However, the decline in the S&P 500 vol…
Another Reason for the Low VIX Another Reason for the Low VIX Reviewed by Marc Chandler on February 27, 2018 Rating: 5
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