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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.
FED
St Louis Fed President Jim Bullard echoed comments this week by other FOMC officials (see 0947ET bullet on KC's George) pointing to the recent rise in long-end yields as being reflective of optimism on the growth outlook and - implicitly - not a reflection of a potential Fed pre-emptive tightening of policy.
- Bullard said in a presentation at Georgia State University: "With growth prospects improving and inflation expectations rising, the concordant rise in the 10-year Treasury yield is appropriate"
- More broadly, while he sees "monetary and fiscal policies continue to be exceptionally effective in mitigating macroeconomic damage", "downside risks remains".
- Bullard has for the past few months been on the more bullish side of the FOMC in terms of the economic outlook. In this presentation he suggests that "today's labor market conditions are markedly better than those following the 2007-09 recession"; in some contrast to Powell's comments this week pointing to the broader employment metrics being weak. See chart from his presentation below.
St Louis Fed
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.
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