In this report, I cover the early market action from London on Tuesday, June 18th, 2019. I look briefly at the precious metals, the stock market, the dollar, the bond market and the price of WTI and Brent crude oil.
Today I talk about the Federal Reserves difficult task to keep their credit bubble and stock market bubble going despite all the mixed signals we are getting in the economy and the markets. The FOMC meets today and tomorrow and the chairman, Jay Powell, will hold a press conference tomorrow afternoon and give the public the FOMC's economic projections or forecast.
In my opinion, this FOMC meeting could do a great deal of damage to the FOMC as it seems like the market is calling for an immediate rate cut even though the Fed will keep tightening in terms of its balance sheet until September.
My conclusion is that Jay Powel and his colleagues at the FOMC need to be very careful about what they announce tomorrow and that what they do about rates tomorrow might not be as important as what kind of answers Mr Powell gives at the press conference.
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About your comment on Iran, With tensions escalating, once again in the Middle East, it seems strange that prices remain constant without a sharp rise, also with a the yield curve inverted, as I learned from Greg Manarino also is that something that has to give, as you have said this is really strange, I believe the best policy is hope for the best be prepared for the worst.
Iran has been provoking countries around the world, with the terrible non agreement they made with Kerry, which I remember he couldn’t get them to budge, he caved in, they got everything and the world really got shamed.
It was right for Trump to remove the US from the non deal.
Now they are attacking ships, no doubt, at first I thought false flag, then seen how arrogant they have been when it comes to the US.
They have had their fast boats harass the US carriers, but let’s not stop there, Russia has also been harassing the US military , the US has been standing down in every instance.
It won’t last unfortunately.
The US will usually present its case at the UN and then action is taken, we are at the stage where the evidence has been presented with pics, lousy but still pics of a boat and crew near the ship, and a point where an attack will be imminent.
I do hope a deal without conflict can be achieved, we are in a dangerous situation for the whole region, and the world.
cutting rates just because wall street needs to go higher and all the debt is negative return. The system is over,
Sounds like the big dip is coming. When was the last time we had an FOMC rally in June? I don't know, cannot remember off the top of my head. Either way I would expect just about anything to cause a summer solar flare crash! I feel it in the air, the chatter!
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