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日青凡晨

日青凡晨

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12-04

$Grab Holdings(GRAB)$ Finally above $5!!! This shall be the fundamental line for GRAB?

2022-06-27

$Grab Holdings(GRAB)$That's bottom already

2022-02-23

Less than 5%increament on salary this year will beconsidered as nothing!!

Singapore core inflation rises at fastest pace in nearly a decade

2022-07-18

$标普500ETF(SPY)$Drop below 3500 by end of 2022

2022-01-19

Like pls

BlackRock's Fink Says 'Aggressive' Fed Could Lead to Flattening Yield Curve

2021-12-28

Can

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2021-09-23

Market will coming down?

Three Key Takeaways From The Fed Meeting

Go to Tiger App to see more news

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This shall be the fundamental line for GRAB?","images":[{"img":"https://community-static.tradeup.com/news/59eb284f3c5d9642402ac9bd403847ae","width":"1092","height":"1717"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/377885466313000","isVote":1,"tweetType":1,"viewCount":106,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9075138456,"gmtCreate":1658159002775,"gmtModify":1676536114403,"author":{"id":"4095155251405440","authorId":"4095155251405440","name":"日青凡晨","avatar":"https://static.tigerbbs.com/8e2bcba4b45a4f3a8e6decd509e326f9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095155251405440","authorIdStr":"4095155251405440"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/SPY\">$标普500ETF(SPY)$</a><v-v data-views=\"0\"></v-v>Drop below 3500 by end of 2022","listText":"<a href=\"https://ttm.financial/S/SPY\">$标普500ETF(SPY)$</a><v-v data-views=\"0\"></v-v>Drop below 3500 by end of 2022","text":"$标普500ETF(SPY)$Drop below 3500 by end of 2022","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9075138456","isVote":1,"tweetType":1,"viewCount":212,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9046112994,"gmtCreate":1656309894318,"gmtModify":1676535804004,"author":{"id":"4095155251405440","authorId":"4095155251405440","name":"日青凡晨","avatar":"https://static.tigerbbs.com/8e2bcba4b45a4f3a8e6decd509e326f9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095155251405440","authorIdStr":"4095155251405440"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/GRAB\">$Grab Holdings(GRAB)$</a><v-v data-views=\"1\"></v-v>That's bottom already&nbsp;","listText":"<a href=\"https://ttm.financial/S/GRAB\">$Grab Holdings(GRAB)$</a><v-v data-views=\"1\"></v-v>That's bottom already&nbsp;","text":"$Grab Holdings(GRAB)$That's bottom already","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9046112994","isVote":1,"tweetType":1,"viewCount":550,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9030995146,"gmtCreate":1645596162322,"gmtModify":1676534044142,"author":{"id":"4095155251405440","authorId":"4095155251405440","name":"日青凡晨","avatar":"https://static.tigerbbs.com/8e2bcba4b45a4f3a8e6decd509e326f9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095155251405440","authorIdStr":"4095155251405440"},"themes":[],"htmlText":"Less than 5%increament on salary this year will beconsidered as nothing!!","listText":"Less than 5%increament on salary this year will beconsidered as nothing!!","text":"Less than 5%increament on salary this year will beconsidered as nothing!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030995146","repostId":"2213885969","repostType":4,"repost":{"id":"2213885969","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1645592403,"share":"https://ttm.financial/m/news/2213885969?lang=&edition=fundamental","pubTime":"2022-02-23 13:00","market":"sg","language":"en","title":"Singapore core inflation rises at fastest pace in nearly a decade","url":"https://stock-news.laohu8.com/highlight/detail?id=2213885969","media":"Reuters","summary":"SINGAPORE, Feb 23 (Reuters) - Singapore's key consumer price gauge rose in January by its fastest pa","content":"<html><head></head><body><p>SINGAPORE, Feb 23 (Reuters) - Singapore&#39;s key consumer price gauge rose in January by its fastest pace in nearly a decade, largely in line with economist forecasts, driven by higher inflation for food, electricity and gas, official data showed on Wednesday.</p><p>The core inflation rate — the central bank&#39;s favoured price measure - rose 2.4% in January on a year-on-year basis, the highest since September 2012. A Reuters poll of economists had forecast a 2.5% increase.</p><p>Headline inflation rose by 4%, largely in line with economists&#39; forecast of 4.1%.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore core inflation rises at fastest pace in nearly a decade</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore core inflation rises at fastest pace in nearly a decade\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-02-23 13:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>SINGAPORE, Feb 23 (Reuters) - Singapore&#39;s key consumer price gauge rose in January by its fastest pace in nearly a decade, largely in line with economist forecasts, driven by higher inflation for food, electricity and gas, official data showed on Wednesday.</p><p>The core inflation rate — the central bank&#39;s favoured price measure - rose 2.4% in January on a year-on-year basis, the highest since September 2012. A Reuters poll of economists had forecast a 2.5% increase.</p><p>Headline inflation rose by 4%, largely in line with economists&#39; forecast of 4.1%.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4535":"淡马锡持仓","STI.SI":"富时新加坡海峡指数","BK4529":"IDC概念","BK4527":"明星科技股","BK4534":"瑞士信贷持仓","BK4550":"红杉资本持仓","BK4512":"苹果概念","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4141":"半导体产品","BK4554":"元宇宙及AR概念","BK4080":"零售业房地产投资信托","BK4515":"5G概念"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2213885969","content_text":"SINGAPORE, Feb 23 (Reuters) - Singapore's key consumer price gauge rose in January by its fastest pace in nearly a decade, largely in line with economist forecasts, driven by higher inflation for food, electricity and gas, official data showed on Wednesday.The core inflation rate — the central bank's favoured price measure - rose 2.4% in January on a year-on-year basis, the highest since September 2012. A Reuters poll of economists had forecast a 2.5% increase.Headline inflation rose by 4%, largely in line with economists' forecast of 4.1%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":440,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9004697505,"gmtCreate":1642571756733,"gmtModify":1676533724252,"author":{"id":"4095155251405440","authorId":"4095155251405440","name":"日青凡晨","avatar":"https://static.tigerbbs.com/8e2bcba4b45a4f3a8e6decd509e326f9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095155251405440","authorIdStr":"4095155251405440"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9004697505","repostId":"2204086918","repostType":4,"repost":{"id":"2204086918","kind":"news","pubTimestamp":1642549499,"share":"https://ttm.financial/m/news/2204086918?lang=&edition=fundamental","pubTime":"2022-01-19 07:44","market":"us","language":"en","title":"BlackRock's Fink Says 'Aggressive' Fed Could Lead to Flattening Yield Curve","url":"https://stock-news.laohu8.com/highlight/detail?id=2204086918","media":"StreetInsider","summary":"(Reuters) -     A fast pace of monetary policy readjustment to curb rampant inflation could lead to ","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/5981ad3eaaaeb5aecc6f8ca6642ab5a8\" tg-width=\"200\" tg-height=\"133\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>(Reuters) -     A fast pace of monetary policy readjustment to curb rampant inflation could lead to a flattening of the U.S. Treasuries yield curve, said Larry Fink, chief of the world&#39;s biggest asset manager, BlackRock Inc.</p><p>&#34;I think the yield curve is going to be flattening, you know, and I can even see if the Federal Reserve is very aggressive, I can see a, you know, a negative yield curve&#34;, Fink told CNBC in an interview on Tuesday, according to a transcript.</p><p>The shape of the yield curve reveals investor expectations for U.S. growth and monetary policy. A hawkish stance by the U.S. Federal Reserve planning sooner-than-expected rate increases has pushed up short-term rates, flattening the curve.</p><p>A negatively sloped, or inverted curve, is a phenomenon that is considered bad news for the short-term economic outlook and has presaged past recessions.</p><p>&#34;The shape of the yield curve is going to be the critical issue that&#39;s going to determine the economy,&#34; Fink said.</p><p>The chief executive of BlackRock, which oversees $10 trillion as of Dec. 31, added that he expects inflation to be higher and the Federal Reserve to be &#34;aggressive&#34; for the next two years.</p><p>Financial markets are expecting that the U.S. Federal Reserve could raise rates as many as four times this year after post-pandemic stimulus measures that boosted the U.S economy but also caused inflation to rise.</p><p>On Tuesday, two-year U.S. Treasury yields, which track short-term interest rate expectations, rose above 1% for the first time since the start of the pandemic, further eroding the yield advantage that longer-dated securities usually hold over shorter-dated ones.</p><p>The yield curve between two- and 10-year notes earlier flattened to 81 basis points, the smallest yield gap since Jan. 3.</p><p>(Reporting by Davide Barbuscia; Editing by Mark Porter)</p></body></html>","source":"highlight_streetinsider","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BlackRock's Fink Says 'Aggressive' Fed Could Lead to Flattening Yield Curve</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBlackRock's Fink Says 'Aggressive' Fed Could Lead to Flattening Yield Curve\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-19 07:44 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=19470584><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Reuters) -     A fast pace of monetary policy readjustment to curb rampant inflation could lead to a flattening of the U.S. Treasuries yield curve, said Larry Fink, chief of the world's biggest asset...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=19470584\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4135":"资产管理与托管银行","BK4504":"桥水持仓","BLK":"贝莱德","BK4535":"淡马锡持仓","BK4534":"瑞士信贷持仓","BK4567":"ESG概念","BK4533":"AQR资本管理(全球第二大对冲基金)"},"source_url":"https://www.streetinsider.com/dr/news.php?id=19470584","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2204086918","content_text":"(Reuters) -     A fast pace of monetary policy readjustment to curb rampant inflation could lead to a flattening of the U.S. Treasuries yield curve, said Larry Fink, chief of the world's biggest asset manager, BlackRock Inc.\"I think the yield curve is going to be flattening, you know, and I can even see if the Federal Reserve is very aggressive, I can see a, you know, a negative yield curve\", Fink told CNBC in an interview on Tuesday, according to a transcript.The shape of the yield curve reveals investor expectations for U.S. growth and monetary policy. A hawkish stance by the U.S. Federal Reserve planning sooner-than-expected rate increases has pushed up short-term rates, flattening the curve.A negatively sloped, or inverted curve, is a phenomenon that is considered bad news for the short-term economic outlook and has presaged past recessions.\"The shape of the yield curve is going to be the critical issue that's going to determine the economy,\" Fink said.The chief executive of BlackRock, which oversees $10 trillion as of Dec. 31, added that he expects inflation to be higher and the Federal Reserve to be \"aggressive\" for the next two years.Financial markets are expecting that the U.S. Federal Reserve could raise rates as many as four times this year after post-pandemic stimulus measures that boosted the U.S economy but also caused inflation to rise.On Tuesday, two-year U.S. Treasury yields, which track short-term interest rate expectations, rose above 1% for the first time since the start of the pandemic, further eroding the yield advantage that longer-dated securities usually hold over shorter-dated ones.The yield curve between two- and 10-year notes earlier flattened to 81 basis points, the smallest yield gap since Jan. 3.(Reporting by Davide Barbuscia; Editing by Mark Porter)","news_type":1},"isVote":1,"tweetType":1,"viewCount":271,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9009260247,"gmtCreate":1640694600041,"gmtModify":1676533534553,"author":{"id":"4095155251405440","authorId":"4095155251405440","name":"日青凡晨","avatar":"https://static.tigerbbs.com/8e2bcba4b45a4f3a8e6decd509e326f9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095155251405440","authorIdStr":"4095155251405440"},"themes":[],"htmlText":"Can","listText":"Can","text":"Can","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9009260247","repostId":"1127544468","repostType":4,"repost":{"id":"1127544468","kind":"news","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1640646504,"share":"https://ttm.financial/m/news/1127544468?lang=&edition=fundamental","pubTime":"2021-12-28 07:08","market":"us","language":"en","title":"S&P 500 closes at record high on retail sales cheer","url":"https://stock-news.laohu8.com/highlight/detail?id=1127544468","media":"Reuters","summary":"Dec 27  - The S&P 500 indexended at a record high on Monday, its fourth straight session of gains, as strong U.S. retail sales underscored economic strength and eased worries from Omicron-driven flight cancellations that hit travel stocks.U.S. retail sales increased 8.5% year-over-year this holiday season, powered by an ecommerce boom, according to a Mastercard Inc report, giving the S&P 500 retailing indexa boost.Travel-related stocks, typically sensitive to coronavirus news, declined after U.S","content":"<p>Dec 27 (Reuters) - The S&amp;P 500 index(.SPX)ended at a record high on Monday, its fourth straight session of gains, as strong U.S. retail sales underscored economic strength and eased worries from Omicron-driven flight cancellations that hit travel stocks.</p>\n<p>U.S. retail sales increased 8.5% year-over-year this holiday season, powered by an ecommerce boom, according to a Mastercard Inc report, giving the S&amp;P 500 retailing index(.SPXRT)a boost.</p>\n<p>Travel-related stocks, typically sensitive to coronavirus news, declined after U.S. airlines canceled about 800 more flights on Monday after nixing thousands during the Christmas weekend, as Omicron cases soared.</p>\n<p>The S&amp;P 1500 airlines index&nbsp;shed 0.57%. Cruise operators <a href=\"https://laohu8.com/S/NCLH\">Norwegian Cruise Line</a> Holdings, <a href=\"https://laohu8.com/S/RGLD\">Royal</a> Caribbean(RCL.N)and <a href=\"https://laohu8.com/S/CCL\">Carnival</a> Corp(CCL.N)fell 2.55%, 1.35% and 1.18% respectively, among the biggest decliners on the benchmark S&amp;P 500.</p>\n<p>\"The market is in this interesting place where we have a strong consumer, with spending up 8% year over year. Personal consumption makes up 70% of our GDP, and that remains flush,\" said Sylvia Jablonski Kampaktsis, chief investment officer and co-founder at Defiance ETFs in <a href=\"https://laohu8.com/S/NWY\">New York</a>.</p>\n<p>\"Omicron reminds us that we still exist in this corona ecosystem. And it'll probably be <a href=\"https://laohu8.com/S/AONE.U\">one</a> of many things that we will continue talking about with this virus but the doomsday COVID scenario of 2020 feels like it's far behind us.\"</p>\n<p>All 11 main S&amp;P 500 sector indexes advanced, with energy(.SPNY)and tech(.SPLRCT)leading percentage gains.</p>\n<p>The Dow Jones Industrial Average(.DJI)rose 351.82 points, or 0.98%, to 36,302.38, the S&amp;P 500(.SPX)gained 65.4 points, or 1.38%, to 4,791.19 and the <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> Composite(.IXIC)added 217.89 points, or 1.39%, to 15,871.26.</p>\n<p>The S&amp;P 500 has climbed 4.9% during its recent run of gains, its biggest percentage gain over a four-day period since early November 2020.</p>\n<p>The Nasdaq Composite(.IXIC)got a boost from megacap companies, including Tesla Inc(TSLA.O), <a href=\"https://laohu8.com/S/MSFT\">Microsoft</a> Corp(MSFT.O), <a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc(AAPL.O)and <a href=\"https://laohu8.com/S/CASH\">Meta</a> Platform(FB.O).</p>\n<p>Main U.S. stock indexes are on track for a third straight yearly gain, with the benchmark S&amp;P 500(.SPX)poised for its best three-year performance since 1999.</p>\n<p>Volume on U.S. exchanges was 7.76 billion shares, compared with the 11.74 billion average for the full session over the last 20 trading days.</p>\n<p>Advancing issues outnumbered decliners on the NYSE by a 2.29-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted 58 new 52-week highs and no new lows; the Nasdaq Composite recorded 101 new highs and 145 new lows.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 closes at record high on retail sales cheer</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500 closes at record high on retail sales cheer\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-12-28 07:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Dec 27 (Reuters) - The S&amp;P 500 index(.SPX)ended at a record high on Monday, its fourth straight session of gains, as strong U.S. retail sales underscored economic strength and eased worries from Omicron-driven flight cancellations that hit travel stocks.</p>\n<p>U.S. retail sales increased 8.5% year-over-year this holiday season, powered by an ecommerce boom, according to a Mastercard Inc report, giving the S&amp;P 500 retailing index(.SPXRT)a boost.</p>\n<p>Travel-related stocks, typically sensitive to coronavirus news, declined after U.S. airlines canceled about 800 more flights on Monday after nixing thousands during the Christmas weekend, as Omicron cases soared.</p>\n<p>The S&amp;P 1500 airlines index&nbsp;shed 0.57%. Cruise operators <a href=\"https://laohu8.com/S/NCLH\">Norwegian Cruise Line</a> Holdings, <a href=\"https://laohu8.com/S/RGLD\">Royal</a> Caribbean(RCL.N)and <a href=\"https://laohu8.com/S/CCL\">Carnival</a> Corp(CCL.N)fell 2.55%, 1.35% and 1.18% respectively, among the biggest decliners on the benchmark S&amp;P 500.</p>\n<p>\"The market is in this interesting place where we have a strong consumer, with spending up 8% year over year. Personal consumption makes up 70% of our GDP, and that remains flush,\" said Sylvia Jablonski Kampaktsis, chief investment officer and co-founder at Defiance ETFs in <a href=\"https://laohu8.com/S/NWY\">New York</a>.</p>\n<p>\"Omicron reminds us that we still exist in this corona ecosystem. And it'll probably be <a href=\"https://laohu8.com/S/AONE.U\">one</a> of many things that we will continue talking about with this virus but the doomsday COVID scenario of 2020 feels like it's far behind us.\"</p>\n<p>All 11 main S&amp;P 500 sector indexes advanced, with energy(.SPNY)and tech(.SPLRCT)leading percentage gains.</p>\n<p>The Dow Jones Industrial Average(.DJI)rose 351.82 points, or 0.98%, to 36,302.38, the S&amp;P 500(.SPX)gained 65.4 points, or 1.38%, to 4,791.19 and the <a href=\"https://laohu8.com/S/NDAQ\">Nasdaq</a> Composite(.IXIC)added 217.89 points, or 1.39%, to 15,871.26.</p>\n<p>The S&amp;P 500 has climbed 4.9% during its recent run of gains, its biggest percentage gain over a four-day period since early November 2020.</p>\n<p>The Nasdaq Composite(.IXIC)got a boost from megacap companies, including Tesla Inc(TSLA.O), <a href=\"https://laohu8.com/S/MSFT\">Microsoft</a> Corp(MSFT.O), <a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc(AAPL.O)and <a href=\"https://laohu8.com/S/CASH\">Meta</a> Platform(FB.O).</p>\n<p>Main U.S. stock indexes are on track for a third straight yearly gain, with the benchmark S&amp;P 500(.SPX)poised for its best three-year performance since 1999.</p>\n<p>Volume on U.S. exchanges was 7.76 billion shares, compared with the 11.74 billion average for the full session over the last 20 trading days.</p>\n<p>Advancing issues outnumbered decliners on the NYSE by a 2.29-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted 58 new 52-week highs and no new lows; the Nasdaq Composite recorded 101 new highs and 145 new lows.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SPXU":"三倍做空标普500ETF","UPRO":"三倍做多标普500ETF","BK4534":"瑞士信贷持仓","BK4550":"红杉资本持仓","BK4504":"桥水持仓","SH":"标普500反向ETF","SSO":"两倍做多标普500ETF","IVV":"标普500指数ETF","SPY":"标普500ETF","OEF":"标普100指数ETF-iShares","OEX":"标普100",".SPX":"S&P 500 Index","SDS":"两倍做空标普500ETF","BK4559":"巴菲特持仓"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127544468","content_text":"Dec 27 (Reuters) - The S&P 500 index(.SPX)ended at a record high on Monday, its fourth straight session of gains, as strong U.S. retail sales underscored economic strength and eased worries from Omicron-driven flight cancellations that hit travel stocks.\nU.S. retail sales increased 8.5% year-over-year this holiday season, powered by an ecommerce boom, according to a Mastercard Inc report, giving the S&P 500 retailing index(.SPXRT)a boost.\nTravel-related stocks, typically sensitive to coronavirus news, declined after U.S. airlines canceled about 800 more flights on Monday after nixing thousands during the Christmas weekend, as Omicron cases soared.\nThe S&P 1500 airlines index shed 0.57%. Cruise operators Norwegian Cruise Line Holdings, Royal Caribbean(RCL.N)and Carnival Corp(CCL.N)fell 2.55%, 1.35% and 1.18% respectively, among the biggest decliners on the benchmark S&P 500.\n\"The market is in this interesting place where we have a strong consumer, with spending up 8% year over year. Personal consumption makes up 70% of our GDP, and that remains flush,\" said Sylvia Jablonski Kampaktsis, chief investment officer and co-founder at Defiance ETFs in New York.\n\"Omicron reminds us that we still exist in this corona ecosystem. And it'll probably be one of many things that we will continue talking about with this virus but the doomsday COVID scenario of 2020 feels like it's far behind us.\"\nAll 11 main S&P 500 sector indexes advanced, with energy(.SPNY)and tech(.SPLRCT)leading percentage gains.\nThe Dow Jones Industrial Average(.DJI)rose 351.82 points, or 0.98%, to 36,302.38, the S&P 500(.SPX)gained 65.4 points, or 1.38%, to 4,791.19 and the Nasdaq Composite(.IXIC)added 217.89 points, or 1.39%, to 15,871.26.\nThe S&P 500 has climbed 4.9% during its recent run of gains, its biggest percentage gain over a four-day period since early November 2020.\nThe Nasdaq Composite(.IXIC)got a boost from megacap companies, including Tesla Inc(TSLA.O), Microsoft Corp(MSFT.O), Apple Inc(AAPL.O)and Meta Platform(FB.O).\nMain U.S. stock indexes are on track for a third straight yearly gain, with the benchmark S&P 500(.SPX)poised for its best three-year performance since 1999.\nVolume on U.S. exchanges was 7.76 billion shares, compared with the 11.74 billion average for the full session over the last 20 trading days.\nAdvancing issues outnumbered decliners on the NYSE by a 2.29-to-1 ratio; on Nasdaq, a 1.09-to-1 ratio favored advancers.\nThe S&P 500 posted 58 new 52-week highs and no new lows; the Nasdaq Composite recorded 101 new highs and 145 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":432,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":863689665,"gmtCreate":1632385566257,"gmtModify":1676530769448,"author":{"id":"4095155251405440","authorId":"4095155251405440","name":"日青凡晨","avatar":"https://static.tigerbbs.com/8e2bcba4b45a4f3a8e6decd509e326f9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095155251405440","authorIdStr":"4095155251405440"},"themes":[],"htmlText":"Market will coming down?","listText":"Market will coming down?","text":"Market will coming down?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/863689665","repostId":"1134836893","repostType":2,"repost":{"id":"1134836893","kind":"news","pubTimestamp":1632382568,"share":"https://ttm.financial/m/news/1134836893?lang=&edition=fundamental","pubTime":"2021-09-23 15:36","market":"us","language":"en","title":"Three Key Takeaways From The Fed Meeting","url":"https://stock-news.laohu8.com/highlight/detail?id=1134836893","media":"zerohedge","summary":"Confirming what we said in \"It's Official: Tapering To Begin In November, End In July\", the FOMC tod","content":"<p>Confirming what we said in \"It's Official: Tapering To Begin In November, End In July\", the FOMC today paved the way for a taper start in two months when it said \"the Committee judges that a moderation in the pace of asset purchases may soon be warranted.\" Furthermore, the projected path for the policy rate in the Summary of Economic Projections (SEP) showed an even split among FOMC members between zero and one hike in 2022, slightly above the OIS implied rate.</p>\n<p><img src=\"https://static.tigerbbs.com/a004ce37f590af6e0a21f9d975e07868\" tg-width=\"1029\" tg-height=\"517\" width=\"100%\" height=\"auto\">Additionally, the median projection implied three additional hikes each in 2023 and 2024 (for six and half total by end-2024). As shown in the chart above, the market - which is pricing in just 1% Fed Funds rate in 2024 - will have an uphill climb to catch up to the Fed.</p>\n<p>Curiously, in its commentary on the FOMC, Goldman appears to be hinting at a bit of a mutiny inside the Fed: according to Goldman's Jan Hatzius<b>\"our best guess is that Chair Powell did not project a hike in 2022.\"</b>Is Powell about to cede control to the far more hawkish regional Feds?</p>\n<p>In its post-mortem of the FOMC, BofA chief economist Michelle Meyer said that on the whole, the Fed meeting was&nbsp; another move in the \"more hawkish direction.\" even if the bank clarified that \"this is still a very dovish Fed that is highly committed to achieving higher inflation and a hot economy. But in the face of supply side constraints and growing signs of persistent inflation, it appears that those objectives could be met earlier.\"</p>\n<p>This may explain why Goldman was wildly off in its forecast: as Hatzius notes, \"the median dot implied three additional hikes in 2023 and three more in 2024, implying three and half total hikes through end-2023 (<b>vs two in June; we expected two at this meeting</b>) and six and half hikes through end-2024 (not reported in June;<b>we expected five at this meeting)</b>.\"</p>\n<p><i>There were three key takeaways from the meeting:</i></p>\n<p><b>1. As noted above, taper on track to be announced in November and be completed by mid-year.</b>While the taper signal in the statement was vague – “may soon be warranted” – Chair Powell clarified in the press conference that they could be ready in the upcoming meeting (in November). Hence absent a significant disappointment in the employment data or financial market disruption, this confirms what wesaid two weeks ago, that tapering will begin in November and end in July.</p>\n<p><img src=\"https://static.tigerbbs.com/a4884154b330962d6b6fcd98e9c85418\" tg-width=\"1015\" tg-height=\"624\" width=\"100%\" height=\"auto\"></p>\n<p><b>2. Committee members are edging toward higher rates:</b>As the Fed's updated dot plot showed, the Committee is now evenly split between the first hike in 2022 or 2023, which brought the median up to 0.25%. The consensus is now for 3 hikes in both 2023 and 2024, leaving rates at the end of the forecast horizon at 1.75%. As Chair Powell noted, this is still decently below the long-run funds rate of 2.5%, which means policy is still accommodative; meanwhile with 2024 OIS still pegged at 1% the market's verdict is no way the Fed can achieve this.</p>\n<p><img src=\"https://static.tigerbbs.com/e0f87fc312d1d9568d892ff617c764ed\" tg-width=\"1280\" tg-height=\"692\" width=\"100%\" height=\"auto\"></p>\n<p><b>3. The case of higher inflation is building due to greater supply side constraints:</b>Forecasts were boosted for core inflation modestly and Powell noted that the supply side is constrained and creating challenges for inflation. As BofA notes, \"the Fed has become more concerned about persistent price pressures, although the critical test will be long-run inflation expectations, which remain well anchored. Monitoring the supply side developments will be critical:; the supply side remains constrained for both goods and labor.</p>\n<p><img src=\"https://static.tigerbbs.com/c5516c94d75fdd3cad63a50f70c800d2\" tg-width=\"898\" tg-height=\"358\" width=\"100%\" height=\"auto\"><b>Market reaction</b></p>\n<p>The rates market interpreted Fed communications as hawkish, with the yield curve flattening, 5Y rates 2bps higher &amp; 30Y rates 2bp lower.</p>\n<p><img src=\"https://static.tigerbbs.com/73d75e049d598d45ef7b365b7217039c\" tg-width=\"945\" tg-height=\"556\" width=\"100%\" height=\"auto\"></p>\n<p>This according to BofA, was driven by changes to the dot-plot and communication about tapering. Meanwhile, the US dollar initially sold off following release of the statement but subsequently rallied sharply during Chair Powell’s press conference, finishing the day higher, with lower beta FX (emphasis: EUR) underperforming. A strong probability of a November taper and, in particular, the new hawkish dot plot are likely continue to support USD in the weeks ahead, unless fears about a big policy mistake - one which potentially could force the Fed to proceed with QE - re-emerge as they did in June.</p>\n<p><b>On the November Taper</b></p>\n<p>While the statement was somewhat vague, Chair Powell was clear in the press conference. He noted that the criterion for substantial further progress for price stability has been met and has “all but been met” for employment, even if some cynics pointed out that is hardly the case.</p>\n<p><img src=\"https://static.tigerbbs.com/6aed2c94eac690f4eb801af27d8da740\" tg-width=\"561\" tg-height=\"519\" width=\"100%\" height=\"auto\"></p>\n<p>Powell said he would need to see a “good” but not exceptional jobs report in September to feel comfortable announcing tapering at the upcoming meeting in November. Powell was also specific on the path for tapering, noting that the Committee expects to finish tapering by the middle of the year, indicating a preference for a monthly pace for tapering, translating into $15bn every month.</p>\n<p><b>Hiking is (not) tapering</b></p>\n<p>Similar to 2013, Powell reiterated that the decision to taper is different from the decision to hike, stating that when tapering starts, we will be “well away from satisfying the liftoff test.” Despite similar rhetoric in 2013, it took the bond market months to agree with this take. However, what is clear - at least according to the Fed - is that at the end of the forecast horizon in 2024,<b>rates will still be below the long-run rate forecast, suggesting that policy will be supportive into 2025; one can only imagine what inflation will be then.</b>Powell also emphasized the importance of long-run inflation expectations, arguing that they are higher but mostly back to 2013 levels and not particularly troubling. He reiterated that the goal of FAIT was to push up inflation expectations, which is what has been done. He also mentioned the Fed Board’s Common Inflation Expectations (CIE) measure are at reasonable levels that are consistent with the FOMC’s inflation target.</p>\n<p><b>Transitory inflation is (not) permanent</b></p>\n<p>Powell attributed the sharp upward revisions to inflation to greater supply bottlenecks, which may be “with us for the next few months and into the next year.” It was unclear what will happen if they are with us well into 2022, especially since the supply side remains constrained for both goods and labor, something FedEx made abundantly clear in its earnings call last night when it slashed its EPS outlook due to soaring labor and operational costs. This, according to BofA, must be a concern for the Fed, as it threatens to keep inflation more elevated&nbsp; than they had been expecting. The speed by which the supply side constraints ease will be extremely important to inflation risks and the timing of the first hike.</p>\n<p><b>Rate market interpretation</b></p>\n<p>According to BofA, the rates market interpreted Fed communications as hawkish although this is somewhat suspect in line of the sharp curve flattening; in fact one could almost argue that the rates market indicated the Fed is engaging in another policy error.The hawkish interpretation was driven by the Fed’s dot plot and taper communications. The Fed’s dot plot signaled a pace of hikes that is in line with the market for end ’22, 10bps above the market for end ’23, and roughly 60bps above the market for end ’24. For the Fed to be credible, the market will have to move sharply higher, a move which will have adverse consequences on risk assets.</p>\n<p>The Fed communication also suggests a clearer bias for 5s30s curve flattening in coming months. The announcement of taper at the Nov FOMC should have a limited impact on spreads given the US Treasury is likely to announce coupon cuts on the same day. BofA continues to favor wider swap spreads across the curve in the months ahead due to these UST coupon cuts and ongoing steps to improve UST market structure.</p>\n<p>Finally, on a day when the Fed's overnight reverse repo facility hit an all time high of just under $1.3 trillion, the Fed announced an increase in their overnight reverse repo (ON RRP) per counterparty cap from $80bn to $160bn. Weflagged this possibility in Augustdue to increased money fund utilization of ON RRP, and the increase can be interpreted as a preemptive measure by the Fed to ensure abundant money fund &amp; GSE access to the Fed at September quarter end and in case there is a substantial flight to quality due to debt limit concerns.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Three Key Takeaways From The Fed Meeting</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThree Key Takeaways From The Fed Meeting\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-23 15:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/three-key-takeaways-fed-meeting><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Confirming what we said in \"It's Official: Tapering To Begin In November, End In July\", the FOMC today paved the way for a taper start in two months when it said \"the Committee judges that a ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/three-key-takeaways-fed-meeting\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.zerohedge.com/markets/three-key-takeaways-fed-meeting","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1134836893","content_text":"Confirming what we said in \"It's Official: Tapering To Begin In November, End In July\", the FOMC today paved the way for a taper start in two months when it said \"the Committee judges that a moderation in the pace of asset purchases may soon be warranted.\" Furthermore, the projected path for the policy rate in the Summary of Economic Projections (SEP) showed an even split among FOMC members between zero and one hike in 2022, slightly above the OIS implied rate.\nAdditionally, the median projection implied three additional hikes each in 2023 and 2024 (for six and half total by end-2024). As shown in the chart above, the market - which is pricing in just 1% Fed Funds rate in 2024 - will have an uphill climb to catch up to the Fed.\nCuriously, in its commentary on the FOMC, Goldman appears to be hinting at a bit of a mutiny inside the Fed: according to Goldman's Jan Hatzius\"our best guess is that Chair Powell did not project a hike in 2022.\"Is Powell about to cede control to the far more hawkish regional Feds?\nIn its post-mortem of the FOMC, BofA chief economist Michelle Meyer said that on the whole, the Fed meeting was  another move in the \"more hawkish direction.\" even if the bank clarified that \"this is still a very dovish Fed that is highly committed to achieving higher inflation and a hot economy. But in the face of supply side constraints and growing signs of persistent inflation, it appears that those objectives could be met earlier.\"\nThis may explain why Goldman was wildly off in its forecast: as Hatzius notes, \"the median dot implied three additional hikes in 2023 and three more in 2024, implying three and half total hikes through end-2023 (vs two in June; we expected two at this meeting) and six and half hikes through end-2024 (not reported in June;we expected five at this meeting).\"\nThere were three key takeaways from the meeting:\n1. As noted above, taper on track to be announced in November and be completed by mid-year.While the taper signal in the statement was vague – “may soon be warranted” – Chair Powell clarified in the press conference that they could be ready in the upcoming meeting (in November). Hence absent a significant disappointment in the employment data or financial market disruption, this confirms what wesaid two weeks ago, that tapering will begin in November and end in July.\n\n2. Committee members are edging toward higher rates:As the Fed's updated dot plot showed, the Committee is now evenly split between the first hike in 2022 or 2023, which brought the median up to 0.25%. The consensus is now for 3 hikes in both 2023 and 2024, leaving rates at the end of the forecast horizon at 1.75%. As Chair Powell noted, this is still decently below the long-run funds rate of 2.5%, which means policy is still accommodative; meanwhile with 2024 OIS still pegged at 1% the market's verdict is no way the Fed can achieve this.\n\n3. The case of higher inflation is building due to greater supply side constraints:Forecasts were boosted for core inflation modestly and Powell noted that the supply side is constrained and creating challenges for inflation. As BofA notes, \"the Fed has become more concerned about persistent price pressures, although the critical test will be long-run inflation expectations, which remain well anchored. Monitoring the supply side developments will be critical:; the supply side remains constrained for both goods and labor.\nMarket reaction\nThe rates market interpreted Fed communications as hawkish, with the yield curve flattening, 5Y rates 2bps higher & 30Y rates 2bp lower.\n\nThis according to BofA, was driven by changes to the dot-plot and communication about tapering. Meanwhile, the US dollar initially sold off following release of the statement but subsequently rallied sharply during Chair Powell’s press conference, finishing the day higher, with lower beta FX (emphasis: EUR) underperforming. A strong probability of a November taper and, in particular, the new hawkish dot plot are likely continue to support USD in the weeks ahead, unless fears about a big policy mistake - one which potentially could force the Fed to proceed with QE - re-emerge as they did in June.\nOn the November Taper\nWhile the statement was somewhat vague, Chair Powell was clear in the press conference. He noted that the criterion for substantial further progress for price stability has been met and has “all but been met” for employment, even if some cynics pointed out that is hardly the case.\n\nPowell said he would need to see a “good” but not exceptional jobs report in September to feel comfortable announcing tapering at the upcoming meeting in November. Powell was also specific on the path for tapering, noting that the Committee expects to finish tapering by the middle of the year, indicating a preference for a monthly pace for tapering, translating into $15bn every month.\nHiking is (not) tapering\nSimilar to 2013, Powell reiterated that the decision to taper is different from the decision to hike, stating that when tapering starts, we will be “well away from satisfying the liftoff test.” Despite similar rhetoric in 2013, it took the bond market months to agree with this take. However, what is clear - at least according to the Fed - is that at the end of the forecast horizon in 2024,rates will still be below the long-run rate forecast, suggesting that policy will be supportive into 2025; one can only imagine what inflation will be then.Powell also emphasized the importance of long-run inflation expectations, arguing that they are higher but mostly back to 2013 levels and not particularly troubling. He reiterated that the goal of FAIT was to push up inflation expectations, which is what has been done. He also mentioned the Fed Board’s Common Inflation Expectations (CIE) measure are at reasonable levels that are consistent with the FOMC’s inflation target.\nTransitory inflation is (not) permanent\nPowell attributed the sharp upward revisions to inflation to greater supply bottlenecks, which may be “with us for the next few months and into the next year.” It was unclear what will happen if they are with us well into 2022, especially since the supply side remains constrained for both goods and labor, something FedEx made abundantly clear in its earnings call last night when it slashed its EPS outlook due to soaring labor and operational costs. This, according to BofA, must be a concern for the Fed, as it threatens to keep inflation more elevated  than they had been expecting. The speed by which the supply side constraints ease will be extremely important to inflation risks and the timing of the first hike.\nRate market interpretation\nAccording to BofA, the rates market interpreted Fed communications as hawkish although this is somewhat suspect in line of the sharp curve flattening; in fact one could almost argue that the rates market indicated the Fed is engaging in another policy error.The hawkish interpretation was driven by the Fed’s dot plot and taper communications. The Fed’s dot plot signaled a pace of hikes that is in line with the market for end ’22, 10bps above the market for end ’23, and roughly 60bps above the market for end ’24. For the Fed to be credible, the market will have to move sharply higher, a move which will have adverse consequences on risk assets.\nThe Fed communication also suggests a clearer bias for 5s30s curve flattening in coming months. The announcement of taper at the Nov FOMC should have a limited impact on spreads given the US Treasury is likely to announce coupon cuts on the same day. BofA continues to favor wider swap spreads across the curve in the months ahead due to these UST coupon cuts and ongoing steps to improve UST market structure.\nFinally, on a day when the Fed's overnight reverse repo facility hit an all time high of just under $1.3 trillion, the Fed announced an increase in their overnight reverse repo (ON RRP) per counterparty cap from $80bn to $160bn. Weflagged this possibility in Augustdue to increased money fund utilization of ON RRP, and the increase can be interpreted as a preemptive measure by the Fed to ensure abundant money fund & GSE access to the Fed at September quarter end and in case there is a substantial flight to quality due to debt limit concerns.","news_type":1},"isVote":1,"tweetType":1,"viewCount":262,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":377885466313000,"gmtCreate":1733293807805,"gmtModify":1733293812985,"author":{"id":"4095155251405440","authorId":"4095155251405440","name":"日青凡晨","avatar":"https://static.tigerbbs.com/8e2bcba4b45a4f3a8e6decd509e326f9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095155251405440","authorIdStr":"4095155251405440"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/GRAB\">$Grab Holdings(GRAB)$&nbsp;</a> Finally above $5!!! This shall be the fundamental line for GRAB?","listText":"<a href=\"https://ttm.financial/S/GRAB\">$Grab Holdings(GRAB)$&nbsp;</a> Finally above $5!!! This shall be the fundamental line for GRAB?","text":"$Grab Holdings(GRAB)$ Finally above $5!!! This shall be the fundamental line for GRAB?","images":[{"img":"https://community-static.tradeup.com/news/59eb284f3c5d9642402ac9bd403847ae","width":"1092","height":"1717"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/377885466313000","isVote":1,"tweetType":1,"viewCount":106,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9046112994,"gmtCreate":1656309894318,"gmtModify":1676535804004,"author":{"id":"4095155251405440","authorId":"4095155251405440","name":"日青凡晨","avatar":"https://static.tigerbbs.com/8e2bcba4b45a4f3a8e6decd509e326f9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095155251405440","authorIdStr":"4095155251405440"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/GRAB\">$Grab Holdings(GRAB)$</a><v-v data-views=\"1\"></v-v>That's bottom already&nbsp;","listText":"<a href=\"https://ttm.financial/S/GRAB\">$Grab Holdings(GRAB)$</a><v-v data-views=\"1\"></v-v>That's bottom already&nbsp;","text":"$Grab Holdings(GRAB)$That's bottom already","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9046112994","isVote":1,"tweetType":1,"viewCount":550,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9030995146,"gmtCreate":1645596162322,"gmtModify":1676534044142,"author":{"id":"4095155251405440","authorId":"4095155251405440","name":"日青凡晨","avatar":"https://static.tigerbbs.com/8e2bcba4b45a4f3a8e6decd509e326f9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095155251405440","authorIdStr":"4095155251405440"},"themes":[],"htmlText":"Less than 5%increament on salary this year will beconsidered as nothing!!","listText":"Less than 5%increament on salary this year will beconsidered as nothing!!","text":"Less than 5%increament on salary this year will beconsidered as nothing!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9030995146","repostId":"2213885969","repostType":4,"repost":{"id":"2213885969","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1645592403,"share":"https://ttm.financial/m/news/2213885969?lang=&edition=fundamental","pubTime":"2022-02-23 13:00","market":"sg","language":"en","title":"Singapore core inflation rises at fastest pace in nearly a decade","url":"https://stock-news.laohu8.com/highlight/detail?id=2213885969","media":"Reuters","summary":"SINGAPORE, Feb 23 (Reuters) - Singapore's key consumer price gauge rose in January by its fastest pa","content":"<html><head></head><body><p>SINGAPORE, Feb 23 (Reuters) - Singapore&#39;s key consumer price gauge rose in January by its fastest pace in nearly a decade, largely in line with economist forecasts, driven by higher inflation for food, electricity and gas, official data showed on Wednesday.</p><p>The core inflation rate — the central bank&#39;s favoured price measure - rose 2.4% in January on a year-on-year basis, the highest since September 2012. A Reuters poll of economists had forecast a 2.5% increase.</p><p>Headline inflation rose by 4%, largely in line with economists&#39; forecast of 4.1%.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore core inflation rises at fastest pace in nearly a decade</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore core inflation rises at fastest pace in nearly a decade\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-02-23 13:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>SINGAPORE, Feb 23 (Reuters) - Singapore&#39;s key consumer price gauge rose in January by its fastest pace in nearly a decade, largely in line with economist forecasts, driven by higher inflation for food, electricity and gas, official data showed on Wednesday.</p><p>The core inflation rate — the central bank&#39;s favoured price measure - rose 2.4% in January on a year-on-year basis, the highest since September 2012. A Reuters poll of economists had forecast a 2.5% increase.</p><p>Headline inflation rose by 4%, largely in line with economists&#39; forecast of 4.1%.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4535":"淡马锡持仓","STI.SI":"富时新加坡海峡指数","BK4529":"IDC概念","BK4527":"明星科技股","BK4534":"瑞士信贷持仓","BK4550":"红杉资本持仓","BK4512":"苹果概念","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4141":"半导体产品","BK4554":"元宇宙及AR概念","BK4080":"零售业房地产投资信托","BK4515":"5G概念"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2213885969","content_text":"SINGAPORE, Feb 23 (Reuters) - Singapore's key consumer price gauge rose in January by its fastest pace in nearly a decade, largely in line with economist forecasts, driven by higher inflation for food, electricity and gas, official data showed on Wednesday.The core inflation rate — the central bank's favoured price measure - rose 2.4% in January on a year-on-year basis, the highest since September 2012. A Reuters poll of economists had forecast a 2.5% increase.Headline inflation rose by 4%, largely in line with economists' forecast of 4.1%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":440,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9075138456,"gmtCreate":1658159002775,"gmtModify":1676536114403,"author":{"id":"4095155251405440","authorId":"4095155251405440","name":"日青凡晨","avatar":"https://static.tigerbbs.com/8e2bcba4b45a4f3a8e6decd509e326f9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095155251405440","authorIdStr":"4095155251405440"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/SPY\">$标普500ETF(SPY)$</a><v-v data-views=\"0\"></v-v>Drop below 3500 by end of 2022","listText":"<a href=\"https://ttm.financial/S/SPY\">$标普500ETF(SPY)$</a><v-v data-views=\"0\"></v-v>Drop below 3500 by end of 2022","text":"$标普500ETF(SPY)$Drop below 3500 by end of 2022","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9075138456","isVote":1,"tweetType":1,"viewCount":212,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9004697505,"gmtCreate":1642571756733,"gmtModify":1676533724252,"author":{"id":"4095155251405440","authorId":"4095155251405440","name":"日青凡晨","avatar":"https://static.tigerbbs.com/8e2bcba4b45a4f3a8e6decd509e326f9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095155251405440","authorIdStr":"4095155251405440"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9004697505","repostId":"2204086918","repostType":4,"repost":{"id":"2204086918","kind":"news","pubTimestamp":1642549499,"share":"https://ttm.financial/m/news/2204086918?lang=&edition=fundamental","pubTime":"2022-01-19 07:44","market":"us","language":"en","title":"BlackRock's Fink Says 'Aggressive' Fed Could Lead to Flattening Yield Curve","url":"https://stock-news.laohu8.com/highlight/detail?id=2204086918","media":"StreetInsider","summary":"(Reuters) -     A fast pace of monetary policy readjustment to curb rampant inflation could lead to ","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/5981ad3eaaaeb5aecc6f8ca6642ab5a8\" tg-width=\"200\" tg-height=\"133\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>(Reuters) -     A fast pace of monetary policy readjustment to curb rampant inflation could lead to a flattening of the U.S. Treasuries yield curve, said Larry Fink, chief of the world&#39;s biggest asset manager, BlackRock Inc.</p><p>&#34;I think the yield curve is going to be flattening, you know, and I can even see if the Federal Reserve is very aggressive, I can see a, you know, a negative yield curve&#34;, Fink told CNBC in an interview on Tuesday, according to a transcript.</p><p>The shape of the yield curve reveals investor expectations for U.S. growth and monetary policy. A hawkish stance by the U.S. Federal Reserve planning sooner-than-expected rate increases has pushed up short-term rates, flattening the curve.</p><p>A negatively sloped, or inverted curve, is a phenomenon that is considered bad news for the short-term economic outlook and has presaged past recessions.</p><p>&#34;The shape of the yield curve is going to be the critical issue that&#39;s going to determine the economy,&#34; Fink said.</p><p>The chief executive of BlackRock, which oversees $10 trillion as of Dec. 31, added that he expects inflation to be higher and the Federal Reserve to be &#34;aggressive&#34; for the next two years.</p><p>Financial markets are expecting that the U.S. Federal Reserve could raise rates as many as four times this year after post-pandemic stimulus measures that boosted the U.S economy but also caused inflation to rise.</p><p>On Tuesday, two-year U.S. Treasury yields, which track short-term interest rate expectations, rose above 1% for the first time since the start of the pandemic, further eroding the yield advantage that longer-dated securities usually hold over shorter-dated ones.</p><p>The yield curve between two- and 10-year notes earlier flattened to 81 basis points, the smallest yield gap since Jan. 3.</p><p>(Reporting by Davide Barbuscia; Editing by Mark Porter)</p></body></html>","source":"highlight_streetinsider","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BlackRock's Fink Says 'Aggressive' Fed Could Lead to Flattening Yield Curve</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBlackRock's Fink Says 'Aggressive' Fed Could Lead to Flattening Yield Curve\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-19 07:44 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=19470584><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Reuters) -     A fast pace of monetary policy readjustment to curb rampant inflation could lead to a flattening of the U.S. Treasuries yield curve, said Larry Fink, chief of the world's biggest asset...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=19470584\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4135":"资产管理与托管银行","BK4504":"桥水持仓","BLK":"贝莱德","BK4535":"淡马锡持仓","BK4534":"瑞士信贷持仓","BK4567":"ESG概念","BK4533":"AQR资本管理(全球第二大对冲基金)"},"source_url":"https://www.streetinsider.com/dr/news.php?id=19470584","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2204086918","content_text":"(Reuters) -     A fast pace of monetary policy readjustment to curb rampant inflation could lead to a flattening of the U.S. Treasuries yield curve, said Larry Fink, chief of the world's biggest asset manager, BlackRock Inc.\"I think the yield curve is going to be flattening, you know, and I can even see if the Federal Reserve is very aggressive, I can see a, you know, a negative yield curve\", Fink told CNBC in an interview on Tuesday, according to a transcript.The shape of the yield curve reveals investor expectations for U.S. growth and monetary policy. A hawkish stance by the U.S. Federal Reserve planning sooner-than-expected rate increases has pushed up short-term rates, flattening the curve.A negatively sloped, or inverted curve, is a phenomenon that is considered bad news for the short-term economic outlook and has presaged past recessions.\"The shape of the yield curve is going to be the critical issue that's going to determine the economy,\" Fink said.The chief executive of BlackRock, which oversees $10 trillion as of Dec. 31, added that he expects inflation to be higher and the Federal Reserve to be \"aggressive\" for the next two years.Financial markets are expecting that the U.S. Federal Reserve could raise rates as many as four times this year after post-pandemic stimulus measures that boosted the U.S economy but also caused inflation to rise.On Tuesday, two-year U.S. Treasury yields, which track short-term interest rate expectations, rose above 1% for the first time since the start of the pandemic, further eroding the yield advantage that longer-dated securities usually hold over shorter-dated ones.The yield curve between two- and 10-year notes earlier flattened to 81 basis points, the smallest yield gap since Jan. 3.(Reporting by Davide Barbuscia; Editing by Mark Porter)","news_type":1},"isVote":1,"tweetType":1,"viewCount":271,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9009260247,"gmtCreate":1640694600041,"gmtModify":1676533534553,"author":{"id":"4095155251405440","authorId":"4095155251405440","name":"日青凡晨","avatar":"https://static.tigerbbs.com/8e2bcba4b45a4f3a8e6decd509e326f9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095155251405440","authorIdStr":"4095155251405440"},"themes":[],"htmlText":"Can","listText":"Can","text":"Can","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9009260247","repostId":"1127544468","repostType":4,"isVote":1,"tweetType":1,"viewCount":432,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":863689665,"gmtCreate":1632385566257,"gmtModify":1676530769448,"author":{"id":"4095155251405440","authorId":"4095155251405440","name":"日青凡晨","avatar":"https://static.tigerbbs.com/8e2bcba4b45a4f3a8e6decd509e326f9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4095155251405440","authorIdStr":"4095155251405440"},"themes":[],"htmlText":"Market will coming down?","listText":"Market will coming down?","text":"Market will coming down?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/863689665","repostId":"1134836893","repostType":2,"repost":{"id":"1134836893","kind":"news","pubTimestamp":1632382568,"share":"https://ttm.financial/m/news/1134836893?lang=&edition=fundamental","pubTime":"2021-09-23 15:36","market":"us","language":"en","title":"Three Key Takeaways From The Fed Meeting","url":"https://stock-news.laohu8.com/highlight/detail?id=1134836893","media":"zerohedge","summary":"Confirming what we said in \"It's Official: Tapering To Begin In November, End In July\", the FOMC tod","content":"<p>Confirming what we said in \"It's Official: Tapering To Begin In November, End In July\", the FOMC today paved the way for a taper start in two months when it said \"the Committee judges that a moderation in the pace of asset purchases may soon be warranted.\" Furthermore, the projected path for the policy rate in the Summary of Economic Projections (SEP) showed an even split among FOMC members between zero and one hike in 2022, slightly above the OIS implied rate.</p>\n<p><img src=\"https://static.tigerbbs.com/a004ce37f590af6e0a21f9d975e07868\" tg-width=\"1029\" tg-height=\"517\" width=\"100%\" height=\"auto\">Additionally, the median projection implied three additional hikes each in 2023 and 2024 (for six and half total by end-2024). As shown in the chart above, the market - which is pricing in just 1% Fed Funds rate in 2024 - will have an uphill climb to catch up to the Fed.</p>\n<p>Curiously, in its commentary on the FOMC, Goldman appears to be hinting at a bit of a mutiny inside the Fed: according to Goldman's Jan Hatzius<b>\"our best guess is that Chair Powell did not project a hike in 2022.\"</b>Is Powell about to cede control to the far more hawkish regional Feds?</p>\n<p>In its post-mortem of the FOMC, BofA chief economist Michelle Meyer said that on the whole, the Fed meeting was&nbsp; another move in the \"more hawkish direction.\" even if the bank clarified that \"this is still a very dovish Fed that is highly committed to achieving higher inflation and a hot economy. But in the face of supply side constraints and growing signs of persistent inflation, it appears that those objectives could be met earlier.\"</p>\n<p>This may explain why Goldman was wildly off in its forecast: as Hatzius notes, \"the median dot implied three additional hikes in 2023 and three more in 2024, implying three and half total hikes through end-2023 (<b>vs two in June; we expected two at this meeting</b>) and six and half hikes through end-2024 (not reported in June;<b>we expected five at this meeting)</b>.\"</p>\n<p><i>There were three key takeaways from the meeting:</i></p>\n<p><b>1. As noted above, taper on track to be announced in November and be completed by mid-year.</b>While the taper signal in the statement was vague – “may soon be warranted” – Chair Powell clarified in the press conference that they could be ready in the upcoming meeting (in November). Hence absent a significant disappointment in the employment data or financial market disruption, this confirms what wesaid two weeks ago, that tapering will begin in November and end in July.</p>\n<p><img src=\"https://static.tigerbbs.com/a4884154b330962d6b6fcd98e9c85418\" tg-width=\"1015\" tg-height=\"624\" width=\"100%\" height=\"auto\"></p>\n<p><b>2. Committee members are edging toward higher rates:</b>As the Fed's updated dot plot showed, the Committee is now evenly split between the first hike in 2022 or 2023, which brought the median up to 0.25%. The consensus is now for 3 hikes in both 2023 and 2024, leaving rates at the end of the forecast horizon at 1.75%. As Chair Powell noted, this is still decently below the long-run funds rate of 2.5%, which means policy is still accommodative; meanwhile with 2024 OIS still pegged at 1% the market's verdict is no way the Fed can achieve this.</p>\n<p><img src=\"https://static.tigerbbs.com/e0f87fc312d1d9568d892ff617c764ed\" tg-width=\"1280\" tg-height=\"692\" width=\"100%\" height=\"auto\"></p>\n<p><b>3. The case of higher inflation is building due to greater supply side constraints:</b>Forecasts were boosted for core inflation modestly and Powell noted that the supply side is constrained and creating challenges for inflation. As BofA notes, \"the Fed has become more concerned about persistent price pressures, although the critical test will be long-run inflation expectations, which remain well anchored. Monitoring the supply side developments will be critical:; the supply side remains constrained for both goods and labor.</p>\n<p><img src=\"https://static.tigerbbs.com/c5516c94d75fdd3cad63a50f70c800d2\" tg-width=\"898\" tg-height=\"358\" width=\"100%\" height=\"auto\"><b>Market reaction</b></p>\n<p>The rates market interpreted Fed communications as hawkish, with the yield curve flattening, 5Y rates 2bps higher &amp; 30Y rates 2bp lower.</p>\n<p><img src=\"https://static.tigerbbs.com/73d75e049d598d45ef7b365b7217039c\" tg-width=\"945\" tg-height=\"556\" width=\"100%\" height=\"auto\"></p>\n<p>This according to BofA, was driven by changes to the dot-plot and communication about tapering. Meanwhile, the US dollar initially sold off following release of the statement but subsequently rallied sharply during Chair Powell’s press conference, finishing the day higher, with lower beta FX (emphasis: EUR) underperforming. A strong probability of a November taper and, in particular, the new hawkish dot plot are likely continue to support USD in the weeks ahead, unless fears about a big policy mistake - one which potentially could force the Fed to proceed with QE - re-emerge as they did in June.</p>\n<p><b>On the November Taper</b></p>\n<p>While the statement was somewhat vague, Chair Powell was clear in the press conference. He noted that the criterion for substantial further progress for price stability has been met and has “all but been met” for employment, even if some cynics pointed out that is hardly the case.</p>\n<p><img src=\"https://static.tigerbbs.com/6aed2c94eac690f4eb801af27d8da740\" tg-width=\"561\" tg-height=\"519\" width=\"100%\" height=\"auto\"></p>\n<p>Powell said he would need to see a “good” but not exceptional jobs report in September to feel comfortable announcing tapering at the upcoming meeting in November. Powell was also specific on the path for tapering, noting that the Committee expects to finish tapering by the middle of the year, indicating a preference for a monthly pace for tapering, translating into $15bn every month.</p>\n<p><b>Hiking is (not) tapering</b></p>\n<p>Similar to 2013, Powell reiterated that the decision to taper is different from the decision to hike, stating that when tapering starts, we will be “well away from satisfying the liftoff test.” Despite similar rhetoric in 2013, it took the bond market months to agree with this take. However, what is clear - at least according to the Fed - is that at the end of the forecast horizon in 2024,<b>rates will still be below the long-run rate forecast, suggesting that policy will be supportive into 2025; one can only imagine what inflation will be then.</b>Powell also emphasized the importance of long-run inflation expectations, arguing that they are higher but mostly back to 2013 levels and not particularly troubling. He reiterated that the goal of FAIT was to push up inflation expectations, which is what has been done. He also mentioned the Fed Board’s Common Inflation Expectations (CIE) measure are at reasonable levels that are consistent with the FOMC’s inflation target.</p>\n<p><b>Transitory inflation is (not) permanent</b></p>\n<p>Powell attributed the sharp upward revisions to inflation to greater supply bottlenecks, which may be “with us for the next few months and into the next year.” It was unclear what will happen if they are with us well into 2022, especially since the supply side remains constrained for both goods and labor, something FedEx made abundantly clear in its earnings call last night when it slashed its EPS outlook due to soaring labor and operational costs. This, according to BofA, must be a concern for the Fed, as it threatens to keep inflation more elevated&nbsp; than they had been expecting. The speed by which the supply side constraints ease will be extremely important to inflation risks and the timing of the first hike.</p>\n<p><b>Rate market interpretation</b></p>\n<p>According to BofA, the rates market interpreted Fed communications as hawkish although this is somewhat suspect in line of the sharp curve flattening; in fact one could almost argue that the rates market indicated the Fed is engaging in another policy error.The hawkish interpretation was driven by the Fed’s dot plot and taper communications. The Fed’s dot plot signaled a pace of hikes that is in line with the market for end ’22, 10bps above the market for end ’23, and roughly 60bps above the market for end ’24. For the Fed to be credible, the market will have to move sharply higher, a move which will have adverse consequences on risk assets.</p>\n<p>The Fed communication also suggests a clearer bias for 5s30s curve flattening in coming months. The announcement of taper at the Nov FOMC should have a limited impact on spreads given the US Treasury is likely to announce coupon cuts on the same day. BofA continues to favor wider swap spreads across the curve in the months ahead due to these UST coupon cuts and ongoing steps to improve UST market structure.</p>\n<p>Finally, on a day when the Fed's overnight reverse repo facility hit an all time high of just under $1.3 trillion, the Fed announced an increase in their overnight reverse repo (ON RRP) per counterparty cap from $80bn to $160bn. Weflagged this possibility in Augustdue to increased money fund utilization of ON RRP, and the increase can be interpreted as a preemptive measure by the Fed to ensure abundant money fund &amp; GSE access to the Fed at September quarter end and in case there is a substantial flight to quality due to debt limit concerns.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Three Key Takeaways From The Fed Meeting</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThree Key Takeaways From The Fed Meeting\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-23 15:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/three-key-takeaways-fed-meeting><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Confirming what we said in \"It's Official: Tapering To Begin In November, End In July\", the FOMC today paved the way for a taper start in two months when it said \"the Committee judges that a ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/three-key-takeaways-fed-meeting\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.zerohedge.com/markets/three-key-takeaways-fed-meeting","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1134836893","content_text":"Confirming what we said in \"It's Official: Tapering To Begin In November, End In July\", the FOMC today paved the way for a taper start in two months when it said \"the Committee judges that a moderation in the pace of asset purchases may soon be warranted.\" Furthermore, the projected path for the policy rate in the Summary of Economic Projections (SEP) showed an even split among FOMC members between zero and one hike in 2022, slightly above the OIS implied rate.\nAdditionally, the median projection implied three additional hikes each in 2023 and 2024 (for six and half total by end-2024). As shown in the chart above, the market - which is pricing in just 1% Fed Funds rate in 2024 - will have an uphill climb to catch up to the Fed.\nCuriously, in its commentary on the FOMC, Goldman appears to be hinting at a bit of a mutiny inside the Fed: according to Goldman's Jan Hatzius\"our best guess is that Chair Powell did not project a hike in 2022.\"Is Powell about to cede control to the far more hawkish regional Feds?\nIn its post-mortem of the FOMC, BofA chief economist Michelle Meyer said that on the whole, the Fed meeting was  another move in the \"more hawkish direction.\" even if the bank clarified that \"this is still a very dovish Fed that is highly committed to achieving higher inflation and a hot economy. But in the face of supply side constraints and growing signs of persistent inflation, it appears that those objectives could be met earlier.\"\nThis may explain why Goldman was wildly off in its forecast: as Hatzius notes, \"the median dot implied three additional hikes in 2023 and three more in 2024, implying three and half total hikes through end-2023 (vs two in June; we expected two at this meeting) and six and half hikes through end-2024 (not reported in June;we expected five at this meeting).\"\nThere were three key takeaways from the meeting:\n1. As noted above, taper on track to be announced in November and be completed by mid-year.While the taper signal in the statement was vague – “may soon be warranted” – Chair Powell clarified in the press conference that they could be ready in the upcoming meeting (in November). Hence absent a significant disappointment in the employment data or financial market disruption, this confirms what wesaid two weeks ago, that tapering will begin in November and end in July.\n\n2. Committee members are edging toward higher rates:As the Fed's updated dot plot showed, the Committee is now evenly split between the first hike in 2022 or 2023, which brought the median up to 0.25%. The consensus is now for 3 hikes in both 2023 and 2024, leaving rates at the end of the forecast horizon at 1.75%. As Chair Powell noted, this is still decently below the long-run funds rate of 2.5%, which means policy is still accommodative; meanwhile with 2024 OIS still pegged at 1% the market's verdict is no way the Fed can achieve this.\n\n3. The case of higher inflation is building due to greater supply side constraints:Forecasts were boosted for core inflation modestly and Powell noted that the supply side is constrained and creating challenges for inflation. As BofA notes, \"the Fed has become more concerned about persistent price pressures, although the critical test will be long-run inflation expectations, which remain well anchored. Monitoring the supply side developments will be critical:; the supply side remains constrained for both goods and labor.\nMarket reaction\nThe rates market interpreted Fed communications as hawkish, with the yield curve flattening, 5Y rates 2bps higher & 30Y rates 2bp lower.\n\nThis according to BofA, was driven by changes to the dot-plot and communication about tapering. Meanwhile, the US dollar initially sold off following release of the statement but subsequently rallied sharply during Chair Powell’s press conference, finishing the day higher, with lower beta FX (emphasis: EUR) underperforming. A strong probability of a November taper and, in particular, the new hawkish dot plot are likely continue to support USD in the weeks ahead, unless fears about a big policy mistake - one which potentially could force the Fed to proceed with QE - re-emerge as they did in June.\nOn the November Taper\nWhile the statement was somewhat vague, Chair Powell was clear in the press conference. He noted that the criterion for substantial further progress for price stability has been met and has “all but been met” for employment, even if some cynics pointed out that is hardly the case.\n\nPowell said he would need to see a “good” but not exceptional jobs report in September to feel comfortable announcing tapering at the upcoming meeting in November. Powell was also specific on the path for tapering, noting that the Committee expects to finish tapering by the middle of the year, indicating a preference for a monthly pace for tapering, translating into $15bn every month.\nHiking is (not) tapering\nSimilar to 2013, Powell reiterated that the decision to taper is different from the decision to hike, stating that when tapering starts, we will be “well away from satisfying the liftoff test.” Despite similar rhetoric in 2013, it took the bond market months to agree with this take. However, what is clear - at least according to the Fed - is that at the end of the forecast horizon in 2024,rates will still be below the long-run rate forecast, suggesting that policy will be supportive into 2025; one can only imagine what inflation will be then.Powell also emphasized the importance of long-run inflation expectations, arguing that they are higher but mostly back to 2013 levels and not particularly troubling. He reiterated that the goal of FAIT was to push up inflation expectations, which is what has been done. He also mentioned the Fed Board’s Common Inflation Expectations (CIE) measure are at reasonable levels that are consistent with the FOMC’s inflation target.\nTransitory inflation is (not) permanent\nPowell attributed the sharp upward revisions to inflation to greater supply bottlenecks, which may be “with us for the next few months and into the next year.” It was unclear what will happen if they are with us well into 2022, especially since the supply side remains constrained for both goods and labor, something FedEx made abundantly clear in its earnings call last night when it slashed its EPS outlook due to soaring labor and operational costs. This, according to BofA, must be a concern for the Fed, as it threatens to keep inflation more elevated  than they had been expecting. The speed by which the supply side constraints ease will be extremely important to inflation risks and the timing of the first hike.\nRate market interpretation\nAccording to BofA, the rates market interpreted Fed communications as hawkish although this is somewhat suspect in line of the sharp curve flattening; in fact one could almost argue that the rates market indicated the Fed is engaging in another policy error.The hawkish interpretation was driven by the Fed’s dot plot and taper communications. The Fed’s dot plot signaled a pace of hikes that is in line with the market for end ’22, 10bps above the market for end ’23, and roughly 60bps above the market for end ’24. For the Fed to be credible, the market will have to move sharply higher, a move which will have adverse consequences on risk assets.\nThe Fed communication also suggests a clearer bias for 5s30s curve flattening in coming months. The announcement of taper at the Nov FOMC should have a limited impact on spreads given the US Treasury is likely to announce coupon cuts on the same day. BofA continues to favor wider swap spreads across the curve in the months ahead due to these UST coupon cuts and ongoing steps to improve UST market structure.\nFinally, on a day when the Fed's overnight reverse repo facility hit an all time high of just under $1.3 trillion, the Fed announced an increase in their overnight reverse repo (ON RRP) per counterparty cap from $80bn to $160bn. Weflagged this possibility in Augustdue to increased money fund utilization of ON RRP, and the increase can be interpreted as a preemptive measure by the Fed to ensure abundant money fund & GSE access to the Fed at September quarter end and in case there is a substantial flight to quality due to debt limit concerns.","news_type":1},"isVote":1,"tweetType":1,"viewCount":262,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}