Macro Trader

Market Reaction: Markets are making it clear they’re not scared to fight central banks.

Bottom-line: Dovish. Jerome Powell can't seem to talk markets down.

Powell’s opening statement was less hawkish than after the last couple of meetings -- perhaps surprisingly so.

S&P 500 Large Caps Are Enjoying This Fed Meeting.

Policymakers lifted the Fed’s target for its benchmark rate by a quarter percentage point to a range of 4.5% to 4.75%.

FOMC 전에 다른게 뭐 그리 중요할까, 🤔

Bottom-line: Green Start US stocks rose after wage data added to evidence inflation is cooling as the FOMC met to discuss its rate tightening path. The S&P added to its monthly gain of more than 5%, while the Nasdaq was heading for a January advance of 10%.

Labor costs have risen at least 1% for six straight quarters, extending what was already a record streak in data back to 1996.

Market Reaction: 노동비용이 예상을 하회하며 시장은 임금과 고용의 수요 우위가 중앙은행으로 하여금 시장에 강한 메시지를 줄 것이란 우려를 완화시킴. 다만, 1%의 비용 증가 자체도 여전히 높아 금리 경로를 탈선시킬 파급은 아님. US employment costs rose at a slower-than-expected pace in the closing months of 2022, but probably not enough to derail the Federal Reserve from raising interest rates further and keeping them higher for longer to reduce inflation.

음... 센스있네, 유럽 겨울에 대한 ‘🔥' 반응이라니... 🤔