Dissents was back in 2016 when there was a vote of no change, they wanted to hike. The projections show a very divided Federal Reserve. Seven fomc members forecast a third cut this year. That is one more from where we are now. That would bring the rate down to 1. 63 or the average rate. Five members see no need for any cuts at all. They didnt even want the one today. If everybody had a vote. Not all the members vote it would have been five dissents from today if they voted that way and five more forecast just the one cut this year. Put it all together and do all the imagine. The median is at this is it in terms of cuts thats the median of the funds rate forecast for the Federal Reserve. That said, the plurality does see one more cut coming which is seven, does it include the chairman we dont know. Thats going to be important now, the fed also lowered the interest on excess reserves, and another administrative rate in order to atept to get ahold of the fed funds rate, which as weve been
Dropping below the s p 500 dividend yield which is crazy. You can make more money on the yield on the s p 500 than on the 30 year. Unfortunately the algorithms are utilizing global yields as the correlation to equities and that seems to happen from time to time. Remember prior to that it was the chinese currency any time that traded above a 7 Point Equities move lower. So youre looking at global yields and youre basically understanding that protectionism doesnt exist in global asset pricing. What do you mean . Thats exactly what is going on right now so the United States is blessed with technology. The United States is blessed with low energy. Zero versus the rest of the world. Correct but why is that becky . Because we are seen as the best economy globally and thats where i see protectionism doesnt exist in asset pricing the rest of the world is just driving capital here. So you can see bond yields coming down precipitously but still see it being something that doesnt drag the stock m
Lets check where we stand on this wild markets day stocks taking a dive in just the past few minutes, now down 130 points all the major indexes reversing at the tenyear yield hits its lows of the day. And that is a sign of worrisome growth ahead lets go to bob pisani hi, bob. Hello, tyler. Again, markets roughly tracking bond yields. Take a look at a chart weve shown a lot recently the intraday of the tenyear versus the stock market here we saw a program come through as yields dip below 1. 5 here weve been trading practically in lock step with those yields today. See the market here with the tenyear yield on the top there in the s p on the bottom this is an intraday. And pretty much moving in lock step i want to note two weak sectors today. Retailers are continuing to get slammed today. Macys gap, l brand, all down another 4 these all of them are down about 20 this month i want to highlight transports common theme here. Logistics and trucking like jb hunt and rooyder ryder, all wear to
That key 3000 level again. Joining us for the entire hour nancy tangler from tangler wealth management, welcome, nancy. Thank you, sara. We are seeing a nice rally on wall street. What are you doing right now what are you buying . Still focused on the consumer the china news is good but i dont expect us to get a deal soon u. S. Consumer. Yes, thank you. Although china did pretty well according to coke. Yeah, great interview by the way. Thank you mcdonalds, home depot, starbucks, those are some of the names we like in the consumer space as well as coke, one of our largest holdings. Who do you think likes the bachelor more i didnt know tyler was a fan. Im a super fan. Anyway lucky were getting that show on cnbc. Theyre one of the best couples. The new show. Oh, theyre from the bachelor. Im lost. Kayla tausche and seema mody has United Technologies and josh lipton has details on potential app de apple deal in the works and diana olick. Kayla, lets start with you. Wilf, theyre expected to
Warranted in order to shore up Inflation Expectations and a couple participants james bullard, one of them, wanted to acut rates to allay concerns about inflation the minutes show officials felt the increase in uncertainty was a relatively recent phenomenon and there had been staff discussion about the sensitivity of markets to the trade fights with mexico and several officials felt they wanted to wait for more information on the trajectory of the economy before reaching a final conclusion. However, the minutes also show that the fed realizes that markets have baked in a rate cut relatively soon. The minutes state the reason Financial Conditions have remained supportive of growth is because they were premised on the expectation of easier Monetary Policy. Guys, back to you. Elon, medicatiothanks lets bring in Steve Liesman with reaction to what has been a very, very busy fed day and now the minutes on top of that. It fits together, kelly you had a fed chairman that all but guaranteed th