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Friday, 10 July 2015

FED Chair Warns Rate Hike Coming, & More

Platinum Wealth Partners Insights

For the record just over two weeks ago the Fed warned of two rate hikes, now we are down to one. Our bet is that by the time all the other issues in China, Greece, Brazil , Puerto Rico and elsewhere get worse they will be no rate hikes and "QEnth" are going to be effected. Any rate hike is bound to be immaterial regardless, and purely symbolic - while posturing against the IMF's creeping authority - the real invisible issue here.

So don't leave yet, there is much more to come....   

Good luck; Be careful out there

Yellen says a rate hike likely needed this year

Federal Reserve Chairwoman Janet Yellen on Friday said she saw signs the economy was improving and said she expects a rate hike to be needed this year.
“I expect that it will be appropriate at some point later this year to take the first step to raise the federal-funds rate and thus begin normalizing monetary policy,” she said.
Stocks SPX, +1.23% trimmed gains after Yellen’s comments were released. Treasury yields rose after the remarks and the dollar edged higher.
Though the Yellen comments aren’t out of line with previous pronouncements, traders have priced in a dovish view of when and how fast U.S. interest rates will be hiked.

Fear and uncertainty on Wall Street: investors, buckle up for a bumpy ride

A stock investor covers his eyes at a brokerage house in Fuyang in central China's Anhui province.Are we heading for another stock market crash? The signs are ominous. The New York stock exchange – the world’s largest stock market – shut down for three and a half hours due to a mysterious “technical issue” on Wednesday; China’s speculative stock market plunged still further, despite tens of billions of dollars of spending on the part of the government in a futile attempt to halt the carnage; Greece is sailing into uncharted territory and teetering on the brink of leaving the Eurozone; and meanwhile Puerto Rico is mired in its own debt crisis.
Euripides and Sophocles couldn’t have asked for better material for a financial markets melodrama. Little wonder, therefore, that yesterday turned into a day of carnage on Wall Street, from the moment that US stocks prepared to open for trading early in the morning. There may be more to come.

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