Market Analysis: Gold Price Sets New High While Oil Price Dips Further

Now that central banks are cutting rates, the question of where they will stop comes into focus. Real rates have trended down for decades, but a very long-term view supports our thesis that rates will average higher in future than they did pre-pandemic. Most peer central banks are already cutting rates and some are front […]

Summary As widely expected, the FOMC cut the target range for the federal funds rate by 25 bps at today’s meeting. However, one Committee member, who preferred to keep rates on hold, dissented. Wording in the post-meeting statement was changed to signal that further easing may proceed at a slower pace. The median dot for […]

Yesterday’s Bank of Japan (BoJ) decision to exit the negative rates went quite smoothly for equities and bonds, relatively disquieting for the yen. The USDJPY spiked past 151.50 this morning on BoJ’s commitment to keep the policy as accommodative as possible and keep buying Japanese government bonds until it’s sure it hits the 2% target […]