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US Fed raises rates, provokes caution in Indian markets
18 Junio 2017, 05:13 | Dolorita Barahona
Most U.S. Treasury yields edged higher on Thursday after stronger-than-expected U.S. economic data and as traders weighed hawkish Federal Reserve and Bank of England signals, but remained depressed as they did not fully reverse their biggest plunge in a month Wednesday.
If the Fed Funds rate moves up to 3 percent over the next two years, Shiller said, would bode poorly for Treasurys.
The vote in favor of the hike was unanimous.
The US Federal Reserve's interest rate hike is likely to worsen South Korea's rising household debt problem, dampening domestic demand and possibly hurting exports to emerging markets, experts said on June 15.
Once the Fed starts to normalize its balance sheet, the impact could remain minimal as the Fed plans to offload $6 billion in US Treasuries each month.
"The fact that the Fed is tightening against the backdrop of slowing inflation implies that the market continues to price in policy error", Jabaz Mathai, head of US rates strategy at Citigroup Inc., said in a note.
Looking forward to the second half of the year, Stupnytska notes that a tighter labour market could put upward pressure on wages and prices, but argues there is considerable uncertainty around both the extent and timing of this.
There was little reaction in the Treasury or mortgage-backed bond market yesterday.
There's a lot of noise right now when it comes to bank stocks.
Kaplan also repeated his call for immigration reform, continued trade with Mexico and more global integration as ways to counter slow US economic growth.
The rise was widely anticipated after a low unemployment rate, but other economic gauges, including inflation, have been weaker. No major policy changes were made, as expected, and the central bank once again repeated its oft-stated assertion that "the Swiss franc is still significantly overvalued". At 8:30 A.M. EDT this morning, the Census reported that retail sales fell 0.3% in May, which presumably was the driving factor behind the day-over-day change in the 10-year rate. In gradually removing some of the highly stimulative policies that it introduced during and after the Great Recession, she explained, the Fed was trying to avoid a situation "where we have done nothing and then need to raise the funds rate so rapidly that we risk a recession".
Fed ChairJanet Yellen set out a new policy to reduce these huge portfolios by declining to reinvest in these securities each time some of them mature and pay back.
But since then, long-term mortgage rates have declined and are back to nearly exactly where they began: The 30-year averaged 4.04 percent last week.
The president wants $1 trillion worth of work on the ground and we expect to give it to him. However, mortgage rates are not expected to increase immediately.
That would be followed by three rate increases in 2018 and three more in 2019, with the key rate at 2.9 percent by the end of that period.
"The third rate hike in seven months, coming not long after a relatively poor Q1 GDP print, suggests the Fed has become less data-dependent in its monetary policy decisions", Fitch Ratings Chief Economist Brian Coulton said. Inflation is thus moving away from the Fed's 2% target, as opposed to toward it.
LSU names Scalise honorary CWS coach, will send game ball
As usual, they utilize some of the best pitching in the country behind first-round Major League Baseball draft pick Alex Faedo . A coach who has brought a team to Omaha believes LSU has a chance to for a lengthy stay in the 2017 College World Series .
Jury deadlocks in Bill Cosby's criminal trial
Bill Cosby's sexual assault trial was ruled a mistrial by the judge on Saturday morning, after the jury could not reach a verdict. For the first case, the prosecution and defense looked to Allegheny County for jurors who would be unbiased about the case.
Judge declares mistrial in Bill Cosby's sexual assault case
The case was the only one to result in a criminal trial, largely because the other accusations are now too old to prosecute. Allred said that "we can never underestimate the blinding power of celebrity" and vowed that "justice will come".
Stage set for wide open run at US Open title
Bubba Watson , using a pink golf ball one day and lime green the next, shot 75-73 and appeared certain to miss the cut. A 94-year-old Wisconsin man died of natural causes during Friday's second round of the U.S.
India favoured to beat Pakistan in final
India also has great variety and balance in its attack with spinners turning the ball in opposite directions, pace and skill. He is one of the best death bowlers in the world, executing his slower balls and yorkers at will under pressure.
Ward, Kovalev do it again in light heavyweight title bout
The look on my face...." This will also be for the WBA Super, IBF, and WBO World Lightweight titles that Ward won in that event. This time I will not be empty - Ward will be fighting Krusher. "Great fighters aren't going to get hit like that".
Day eyeing US Open fightback after 79
Meanwhile, the top three ranked players in the world - Dustin Johnson , Rory McIlroy and Jason Day - all missed the cut. After tying for 45th at the Memorial last month, Matsuyama arrived at Erin Hills on a downturn in a topsy-turvy season.