Select Page

The Ultimate Managed Hosting Platform

Powell, We Have A Problem: S&P Futures Tumble At Open; Gold, Treasuries Soars

Powell, We Have A Problem: S&P Futures Tumble At Open; Gold, Treasuries Soars
Load WordPress Sites in as fast as 37ms!

Powell, We Have A Problem: S&P Futures Tumble At Open; Gold, Treasuries Soars

The Fed may have a very big problem on its hands.

After firing the biggest emergency bazooka in Fed history, one which was meant to restore not just partial but full normalcy to asset and funding markets, Emini futures are tumbling over 3% at the start of trading – perhaps because the Fed has not only tipped its hand that something is very wrong, but that it can do nothing more to fix the underlying problem…

… while gold is surging over 3% following today’s dollar devastation as US Treasury futures soar, as it now appears that the Fed’s emergency rate cut to 0% coupled with a $700BN QE is seen as note enough by a market which is now openly freaking out that the Fed is out of ammo and has not done enough.

In short, as FX strategist Viraj Patel puts it, “the Fed has thrown a kitchen sink of policy measures that should in theory weaken the US dollar. Problem is the global backdrop due to Covid-19 isn’t conducive to putting money to work in other countries/FX. Fed making US risky assets relatively more attractive may support $USD”

https://platform.twitter.com/widgets.js

Developing.


Tyler Durden

Sun, 03/15/2020 – 18:08

Follow The Libertarian Hub This post has been republished with permission from a publicly-available RSS feed found on Zero Hedge. The views expressed by the original author(s) do not necessarily reflect the opinions or views of The Libertarian Hub, its owners or administrators. Any images included in the original article belong to and are the sole responsibility of the original author/website. The Libertarian Hub makes no claims of ownership of any imported photos/images and shall not be held liable for any unintended copyright infringement. Submit a DCMA takedown request.

-> Click Here to Read the Original Article <-

About The Author

Tyler Durden

Zero Hedge's mission is to widen the scope of financial, economic and political information available to the professional investing public, to skeptically examine and, where necessary, attack the flaccid institution that financial journalism has become, to liberate oppressed knowledge, to provide analysis uninhibited by political constraint and to facilitate information's unending quest for freedom. Visit https://www.zerohedge.com

Leave a reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: