Fed Minutes Reveal Pernicious Policy Paradox; Bond King Says Hang On To Gold
They needed some “additional data.” Data like a vote count from the UK, where the possibility of an imminent black swan landing sealed the deal for no FOMC hike in June. "Members generally agreed that, before assessing whether another step in removing monetary accommodation was warranted, it was prudent to wait for additional data on…
Markets Look To Fed Minutes, Jobs Report With Wary Eyes; Goldman Sees “Drawdown”
If you think it feels a bit tenuous out there you’d be right. On the heels of a rather inauspicious Tuesday session that saw the British pound hit a 31-year low while crude and gasoline futures plunged on (over)supply concerns, it was risk-off overseas, a sentiment that muddied the waters on Wall Street ahead of…