Conversations in europe to some level of success. Of course, the stimulus discussion in washington, all of this wrapped around a market that will never, ever go down. Futures up 25, dow futures up 186. We have a 23 print on the vix now. Just to go to the equity market for one second, come on, jon. 32 to 23 on the vix is really something. Jonathan it is an equity market that has got away from so many, particularly on the tech side. Amazon up 70 . Microsoft, apple up 30 . We have had monster moves. Tom your thoughts on europe, you spent eight tour of duty in you spent a tour of duty in fractured, germany in frankfurt, germany. Jonathan europe is demonstrating that they can borrow at the Commission Level and distribute to places like italy. That was unthinkable in the depths of the crisis. I dont think it is that goal bullet, the. This is part of the journey. Thats how you should view it. It will take a while for the story to build. The keyword is crisis. It took a crisis to take this ste
Lets get straight into the burning issues. With me is kelsey butler, adam tim gunn, and chenal bass lake. A number of big Asset Managers have been getting into an expanding in private markets. What is it doing . Kelsey the firm is definitely growing its footprint into private credit. For one, they have appointed their cfo, Meg Mcclellan into a newly formed role of how to private bets. They are also doing hiring and potentially more acquisitions o grow their assets. Lisa what is the goal here . Why is this happening now . Kelsey it is part of a push from investors. Investors want someone who is specialized in these unique asset classes. Especially when you are talking about alternatives and there are some intricacies along the way. Lisa although, how much is this coming from investor demand, how much from the fact that fees are higher in the alternative space . Kelsey that is definitely a driver as well as these have kind of compressed along the board. Banks are making the smart decisio
Improvements in the economy and decided to end their bond buying program. The minutes reveal some did want to a limited the considerable period language. All but one member agreed the committee should reiterate the appropriate to maintain the current target range for the federal funds rate. The one member thought the committee should instead it tracks in strengthen the forward guidance. Following inflation falling inflation was on the minds of the members in october. Most expected it would move back to their 2 target but they needed to keep an eye on inflation going forward. Said theicipants committee should remain attentive to every single possible downward shift in longerterm inflation expectations. Its such an outcome occurred, it would be even more worrisome if growth faltered. Policymakers discussed the gyration in the financial markets. They decided not to mention those worries and their statement. The same was true overseas. A couple members suggested including language indicati
For the year. Manufacturing is still expanding, just at a slower pace. We are down significantly from where we were in november. New orders, which has the highest correlation is that 57. 3 percent. It is still a good number, but it is not matching up to where we were the previous two months. It will be interesting to see how the markets interpret that. Employment goes up. A sign that may next friday we get some good news on the employment front. Prices, 38. 5 . The disinflationary trend is really in place. Overall, a reasonable picture, just not quite as good as last month. We start the year off on a positive note for manufacturing. This is our read on what percent of the economy . About 15 . This is a very long track record with Economic Growth rate. People like to watch it. The manufacturing jobs trend tend to pay more. The bull market in u. S. Equities is closing in on its 60 year anniversary. Sixth year anniversary. Rbc capital Jonathan Gollop is even more optimistic. You have been
So they acknowledge the weakness, but they go on to say that employment slowed, and the committee continues to expect that appropriate action will continue to move forward. As is consistent with the dual mandate. Inflation is anticipated to remain near the level in the near term, but the committee expects inflation to rise gradually towards 2 as the labor market improves further and the transitory effects decline, and energy and import prices dissipate. They continue to monitor inflation closely. The language in here, again, can distance to what we saw in the march statement. They said the committee anticipates it would be appropriate to raise the target rate for the federal funds rate when they see further improvement in the labor market and they are reasonably confident the rate will move back towards the objective in the median term, so, mark no reference to june. They are taking that off the table, but there is that condition, being data dependent Going Forward, but they are acknow