US NOV FLASH MANUF PMI 48.8 (FCST: 48.9); OCT 48.5

MNI:Largest Canada New Home Price Dip Since `09 Led By Toronto

CANADIAN OCT FLASH RETAIL SALES +0.7%, 4TH STRAIGHT INCREASE

MNI China Daily Summary: Friday, November 22

MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, EU Due Monday

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL NOV INDEX 71.8

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

FED: Daly Downplays Looser Financial Conditions Indices

FED
USGlobalEM BulletFederal ReserveCentral Bank NewsFixed Income BulletsBulletMarketsEmerging Market NewsForeign Exchange BulletsRegionNorth America
  • Q: How do you view easing financial conditions vs economic reality?
  • Daly: Financial conditions are an index of a variety of indicators. The stock market has been very strong, specifically the magnificent seven, whereas a manufacturing firm will say we’re in a recession. Not everyone is using equity to fund themselves but rather lending and those are very effected by rates. I’m not just looking at how the stock market is doing. If financial conditions are looking like they’re different to the real economy then I unpack those – if they’re narrowly located then you can see those sectors are going to be fine but everything else in our mandate matters too.  
111 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • Q: How do you view easing financial conditions vs economic reality?
  • Daly: Financial conditions are an index of a variety of indicators. The stock market has been very strong, specifically the magnificent seven, whereas a manufacturing firm will say we’re in a recession. Not everyone is using equity to fund themselves but rather lending and those are very effected by rates. I’m not just looking at how the stock market is doing. If financial conditions are looking like they’re different to the real economy then I unpack those – if they’re narrowly located then you can see those sectors are going to be fine but everything else in our mandate matters too.