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  • edited May 4
    Little change in markets initially. One bank I own fell some. Hard to say why. Rising rates help banks. But slowing economies are a negative for them. Gold and other metals have been weak all day - a bit of a trend lately.

    Carnival atmosphere on Bloomberg today. Pundits galore! Reminiscent of Macy’s Thanksgiving parade. :)
  • hank said:

    Little change in markets initially. One bank I own fell some. Hard to say why. Rising rates help banks. But slowing economies are a negative for them. Gold and other metals have been weak all day - a bit of a trend lately.

    Carnival atmosphere on Bloomberg today. Pundits galore! Reminiscent of Macy’s Thanksgiving parade. :)

    I never watch finp0rn on fed day.....it's mostly blather, bluster, and time-filling nonsense. For that matter, I rarely do anything in the markets in the first hour following, unless I want to use volatility to buy stuff.

    As a futures trader, FOMC days used to be fun, but I'm long out of that world now.
  • edited May 4
    Bounce baby. Bounce!

    The more JP talks (press conference ) the hotter the market …..
  • NOTES from Statement(s) and press conference

    Factors of concerns include high inflation, supply-chain disruptions, Russia-Ukraine war, Covid-19 spread in China.

    +50 bps hike to 0.75-1.00% fed fund range. Possible +50 bps hikes at 2 next FOMC meetings; +75 bps hikes ruled out for now.

    Rate of 0.90% for bank reserves held at the Fed (banks like to lend money out at higher rate, but keep excess money at the Fed).

    QT/roll-offs for Treasuries at -$30 billion/mo from June-August, -$60 billion/mo from September; MBS -$17.5 billion/mo from June-August, -$35 billion/mo from September. Effects of balance sheet shrinkage are uncertain but they amount to additional and indirect rate hikes.

    Job market is very strong.

    Keeping 2% target for inflation for long-term.

    Fed policy will remain accommodative to neutral, not restrictive; Paul Volcker's very restrictive policy came up in Q&A several times but anything like that isn't anticipated. Current policy has been working good through expectations (= talking).

    https://ybbpersonalfinance.proboards.com/post/614/thread
  • When you expect Armageddon it bounces 900 points
    Can never tell/time this crazy environment
  • edited May 4
    johnN +1 A day late with my dry powder buy !
    " Is it possible that to many investor thought this to be a buy day & drove the market higher ? Tomorrow is another day & we'll see what happens.
  • edited May 4
    Friends added soxl tsla fngu lots tech
    I added brk.b Amazon tsla and vang2055 past few 7d along with Ford bonds

    Cpa Merrill edge advisor told me 3d ago

    Maybe soft landing prob 5-10% more down lots volatility next 4 8 wks but he does not see large recession

    Prob have rally by fall winter

    Expect banks commodities techs cryptos energy do well next 6 12 months

    He is 58 years old...70% stocks 30% bonds fix income will retire 7 8 yrs

    Personally i think could be large resistance sp500 ~3960 next 4- 10 days -if breaks may go 3700....maybe bloody red summer
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