40 billion in mortgagebacked securities. They say the path of the economy will be connected to the path of the virus in the statement. One interesting note at the end. Mary dailey, head of San Francisco reserve president mad to cast her vote as alternate. Minneapolis president Neal Kashkari is on paternity leave. He was into the at the meeting. The birth of their second child happened this week. We think, we believe this is the first time a Voting Member missed a vote because of paternity leave. Back to you, charles. Charles that is an interesting tidbit a lot to go through here. Meantime, folks it is another monster session in the market which yesterday had the best ever postelection session. There should be no question that the worry of a blue wave was the main reason for selling last week. But now the question, have investors moved from abject fear to unbridled optimism a little too fast . Moreover with megagrowth leading the way again, what is the best place to be positioned for th
Prices and the economy depends on the course of the virus the committee will maintain its purchases or increase to smooth market funding it repeats for the second time that it seeks inflation moderately above 2 . This is a carbon copy of the last statement i counted seven words changed and none of them really substantial or meant to convey any particular meaning i think that reflects the big changes. Jim was saying last time exceeding the 2 inflation goal and theity si itdesire not to mo many waves while the country counts votes in this president ial election. The other dissenter did not attend the meeting due to the birth of his second child. Congratulations to Neal Kashkari absolutely. Well spend half an hour dissecting those seven words what do you think of jims point, which is the absence of stimulus may have put the fed even more under a spotlight to do even more absolutely. I think thats true. I think the fed will feel pressure to do more, but it creates an interesting quandary,
Selling treasuries but more about inflation showing up in the u. S. , the risk that keeps most Market Participants awake at night. The treasury market, it is more important what the actions are coming out of europe and japan. The fed unwinding its balance sheet, we have seen from the boj, they are making extrapolate,h we slow purchases as well. It is poised to stop many polluting the most important price in the world, the 10year treasury. 14 trillion worth of bonds bought by Central Banks in the past 4, 5 years. That appears to be close to an end. Market is not dead, it is just dealing in a bearish trend that a lot of people in the market have not seen before. , we have put in a structure secular low in yields, 130, 140 on the 10year. To say we are in a bond bear market is still premature. Jonathan joining me is matthew , andach, priya misra michael buchanan. Were you shaking this week . I dont think so. There were a couple of stories or under this week that said yields higher. Obvious
About inflation showing up in the u. S. , the risk that keeps most Market Participants awake at night. I think for the treasury market, it is far more important what the actions are coming out of europe and japan. You have not only the fed unwinding its balance sheet, we have the ecb slowing purchases, what we have seen from the boj, they are making changes, which we extrapolate, slow purchases as well. Is poised to take its foam of the scale, and poised to stop manipulating the 10year treasury. 14 trillion worth of bonds bought by Central Banks in the past 45 years. That appears to be close to an end. The bond market is not dead, it is just dealing in a bearish trend that a lot of people in the market have not seen before. They have to learn how to do it. We have put in a structure, secular low in yields, 130, 140 on the 10year. To say we are in a bond bear market is still premature. Jonathan joining me is Matthew Hornbach, priya misra, and michael buchanan. The bond bull, were you sh
Potentially selling treasuries but more about inflation showing up in the u. S. , the risk that keeps most Market Participants awake at night. I think for the treasury market, it is far more important what the actions are coming out of europe and japan. You have not only the fed unwinding its balance sheet, we have the ecb slowing purchases, we have seen from the boj that they are making changes, which we extrapolate, slow purchases as well. The fed is poised to take its off the scale, and poised to stop manipulating the 10year treasury. 14 trillion worth of bonds bought by Central Banks in the past four to five years that appears to be close to an end. The bond market is not dead, it is just dealing in a bearish trend that a lot of people in the market havent seen before. They have to learn how to do it. We have put in a structure, secular low in yields, 130, 140 on the 10year. But i think to say we are in a bond bear market is still premature. Jonathan joining me is Matthew Hornbach,