The Fed is finally giving up...
Fed holds rates steady but indicates three cuts coming in 2024. Indeed, the Dot Plot is adjusted down significantly more dovishly than expected, narrowing the gap to the market's expectation significantly... The US 10 year is down 20bp to 4%, the Dow surges by 300 points!
⚠️BREAKING:
*FED'S POWELL: IT IS NOT LIKELY WE WILL HIKE FURTHER *POWELL: POLICYMAKERS ARE THINKING AND TALKING ABOUT WHEN IT WILL BE APPROPRIATE TO CUT RATES Source: www.investing.com
The Fed just triggered the biggest stock-buying program since Nov 2022...
Source: Bloomberg, www.zerohedge.com
Monetary policy is now easing globally - and will ease much more in 2024/25 - at a time when fiscal deficits are far above the global financial crisis levels
Source: BofA
Too much, too fast? Markets is seeing the FED being the most aggressive in terms of rate cuts next year
Source: DB, TME
Gold rallying to 2k$ despite investors selling gold is remarkable. Is it all driven by central banks demand?
Source: Michel A.Arouet, Bloomberg
Losses at the Fed have now passed $125 billion
Source: Win Smart, CFA
Central banks are on pace to buy over 1,000 tons of gold again
Despite the near-record annual purchases, it's worth noting that these institutions once held 80% of their balance sheet in gold Today, it's barely 20%. A return to the historical average of central banks holding 40% of their balance in gold could propel gold prices north of $3,000 based solely on that capital dynamic... Source: Tavi Costa, BofA
