HYBRIDS: Hybrids: Week in Review
Sep-26 11:09
* Alliander brought a 500m PerpNC10 at Z+150 or Sub_Sen +70bps. We thought that this was very tight,...
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MNI: US MBA: MARKET COMPOSITE -0.5% SA THRU AUG 22 WK
Aug-27 11:00
- MNI: US MBA: MARKET COMPOSITE -0.5% SA THRU AUG 22 WK
OUTLOOK: Price Signal Summary - Bear Threat In Oil Futures Still Present
Aug-27 10:53
- On the commodity front, Gold traded higher Tuesday. The medium-term trend condition remains bullish - MA studies are in a bull-mode position highlighting a dominant uptrend. The sideways direction that has been in place since the Apr peak appears to be a pause in the uptrend. A stronger resumption of gains would open $3439.0, the Aug 23 high. Key resistance and the bull trigger is at $3500.1, the Apr 22 low. First key support is $3268.2, the Jul 30 low.
- In the oil space, a bear cycle in WTI futures remains intact and the latest round of short-term gains appear corrective - for now. A key support at $61.99, the Jun 30 low, has recently been breached, strengthening a bearish theme. A continuation lower would open $57.71, the May 30 low. Key short-term resistance has been defined at $69.36, the Jul 30 high. Clearance of this level would cancel a bear theme. Initial resistance to watch is $66.56, the Aug 4 high.
FED: Former Fed's Dudley Writes: "I Wasn’t Very Worried About the Fed. Now I Am"
Aug-27 10:51
- "the attack on Cook represents a major escalation that could end very badly. Never before has a president tried to fire a Fed governor, and there’s much more at stake than one person’s job.
- "If Cook goes, Trump will soon have appointed four of the central bank’s seven governors — a majority. This wouldn’t immediately allow him to exert control over the Federal Open Market Committee, whose 12 voting members set monetary policy. It would, though, provide the president with more leverage.
- "The Board of Governors could, for example, refuse to reappoint some or all of the 12 regional Federal Reserve Bank presidents, whose five-year terms come up for renewal in February 2026 — and five of whom vote on the FOMC on a rotating basis. In theory, this could be a way to populate the FOMC with members that would do Trump’s bidding, empowering the president to get the big rate cuts he seeks."
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