Closely. Crude is back below 37. There hasnt been a rate hike since 06. That decision will come out at 2 00 p. M. Eastern time. Chair yellen scheduled to hold a News Conference a half hour later. Cnbc will bring you complete coverage of the big fed event. Reminders of where we were on pop culture on june 29, 2006. Its been a long journey. Its been a long journey this year as we agonized about whether or not they would raise rates. During the course of that year, the stock market is basically more or less where we started. The tenyear treasury is basically, after this back and forth during the course of the year, basically back where we started. The big mover is the dollar index. The euro down 9 . Thats partly you what see in the corporate earnings. You do have oil down sharply. You have the junk bond market reeling despite the fact that Interest Rates have been so low, we have seen record high yield issuance this year again, emerging markets are weak again. Weve been asking the questio
Failure and whether it can spread to other areas and asset classes. Are these the seeds of another crisis being sown . I think crisis is probably too strong. When you look at the rates, it really picked up dramatically. It focused on the energy space but the contagions there. You and i were just talking. If you look at the hospital stocks, while health care was leading earlier, health care, hospitals, are getting killed. Why . Because they are distressed credits. Anything that has that taint, are looking for liquidity. The stock, the equity, is tracking it. So definitely there are issues. It comes back to me to the fed. Depends what yellen says as to whether we get a bounce or not. So josh, people are picking up the phone this weekend. Theyre try to call their financial adviser. Trying to see if they have exposure to some of this. All they know, high yield. Do i have exposure to high yield. Should mom and pop be worried today . I would say no. Its not because all is well, but the simpl
Fading a built. We begin with our s who is inside her Federal Reserve in washington. Steve steve, set the scene for us. Rates will rise on a gradual path, and yellen might imply that its one and at least pause for a little while. If its neutral, the path would be set to be entirely data dependent, depending on the economic data, and, finally, if its august, the statement could mention normalization as in more rate rises and drop the issue of being below normal rates after theyre done hiking. That would be very hawkish. In fact, one of the best brom meters for how the market sees what the fed put out is the twoyear wreeld, and i think it looks very closely at that. You can see its gone up since the idea of a rate hike has become more built in or bake the into the market. Well see if the three rate hikes is really part of what the market is expecting. Theres that 1 or, say, 110 would be a limit where it might internalize more rate hikes. Also, look for the fed to lower their own the soca
And im tyler mathisen. Welcome from me as well. This is the week, folks, that wall street has been waiting for and waiting for and agonizing over. This is the week when the Federal Reserve is expected to raise its benchmark Interest Rate for the first time in nearly a decade. Fed chair janet yellen and her open Market Committee have laid the groundwork, signaled that barring some unforeseen change of heart it is ready to raise. And one key thing many will be looking at is what effect will rising rates have on the housing market. Diana olick explains. Reporter Wendy Johnson hasnt found the perfect home yet but shes going over her mortgage options now. I definitely want to Pay Attention to what happens this week. Reporter after years of record low Interest Rates the possibility of rising rates has her speeding up her search. Weve been doing our research, but the knowing that this Interest Rate is going to hit, we definitely want to stay in a tight window for making that selection. So i w
And im tyler mathisen. Welcome from me as well. This is the week, folks, that wall street has been waiting for and waiting for and agonizing over. This is the week when the Federal Reserve is expected to raise its benchmark Interest Rate for the first time in nearly a decade. Fed chair janet yellen and her open Market Committee have laid the groundwork, signaled that barring some unforeseen change of heart it is ready to raise. And one key thing many will be looking at is what effect will rising rates have on the housing market. Diana olick explains. Reporter Wendy Johnson hasnt found the perfect home yet but shes going over her mortgage options now. I definitely want to Pay Attention to what happens this week. Reporter after years of record low Interest Rates the possibility of rising rates has her speeding up her search. Weve been doing our research, but the knowing that this Interest Rate is going to hit, we definitely want to stay in a tight window for making that selection. So i w