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So far Michael Colman has created 92 blog entries.

Beckner: Chicago Fed’s Evans: Monetary Policy Not as ‘Normal’ As It Looks

New York Federal Reserve Bank President John Williams has talked about monetary policy returning to “normal,” but Chicago Fed President Charles Evans has a different take.

By |2018-10-03T11:03:50+01:00October 3rd, 2018|

ITC – CFTC Positioning (week ending Sept 25th)

Data captures continued weakness in USTs which were under pressure ahead of the FOMC meeting with the curve bear flattening. Data shows leveraged investors backed off record shorts in TY while adding steepener exposure further with net shorts in WN hitting another record. Large spec were sellers across most of the curve with combined sales in TY/US/WN totalling $12.7m/01. Asst Mgrs continued to add duration across much of the curve with record net long positions in TY & WN contracts

By |2018-10-01T07:56:02+01:00October 1st, 2018|

Beckner: Powell: Funds Rate Could Become Restrictive But Not The Aim

WASHINGTON - Federal Reserve Chairman Jerome Powell was as clear as a monetary policymaker can be Wednesday, elaborating on the Federal Open Market Committee's latest "normalization" move: so long as the economy fulfills expectations the Fed will keep raising short-term interest rates, but not with any particular objective of becoming restrictive.

By |2018-10-01T07:51:56+01:00September 27th, 2018|

ITC – CFTC Positioning (week ending Sept 18th)

Data capture the continued sell-off following the strong Sept NFP/AHE data which sent long-end yields back near the highs from May. Data shows leveraged investors used the sharp sell-off in the front-end to scale back on some net short positions – buying 166k in ED$ contracts and a combined $5.3m/01 in TU & FV contracts. Further out the curve however, they continued to sell TY & WN where net shorts hit another record.

By |2018-09-24T07:51:09+01:00September 24th, 2018|

Beckner: FOMC To Look Beyond 2018 At Appropriate Funds Rate Path

Federal Reserve Chairman Jerome Powell should have no trouble getting support for an increase in the federal funds rate at the Federal Open Market Committee's late September meeting -- what would be the third since he took over from Janet Yellen in February and the eighth since the FOMC stopped holding rates near zero in December 2015.

By |2018-09-21T13:38:17+01:00September 21st, 2018|

Beckner: Powell Unlikely To Send Significant Signals At Jackson Hole

Federal Reserve Chairmen have sometimes broken news and moved markets in Jackson Hole, Wyoming. So speculation is rampant about what Jerome Powell might say when his turn comes Friday to keynote the Kansas City Federal Reserve Bank's annual symposium.

By |2018-08-21T10:28:58+01:00August 21st, 2018|

Beckner: Trade, Other Concerns Cloud Upcoming FOMC Discussions

Although the U.S. economy has seldom looked better, Federal Reserve Chairman Jeremy Powell and his colleagues will make monetary policy under a couple of clouds when they convene their July 31-Aug. 1 Federal Open Market Committee meeting

By |2018-07-27T13:10:19+01:00July 27th, 2018|

Beckner: Top St. Louis Fed Economist Waller: Don’t Need More Rate Hikes

ST. LOUIS - Federal Reserve Chairman Jerome Powell famously said last week the Fed’s policymaking Federal Open Market Committee believes that "for now--the best way forward is to keep gradually raising the federal funds rate," but he and the FOMC majority may get stiff resistance from some quarters.

By |2018-07-23T18:28:52+01:00July 23rd, 2018|