Summary for the 17th of September
Prior to the attack on Saudi’s oil
production facility, the long term treasury yields have been rising. But due to current
event and increase in uncertainty, the long term yields are now again declining.
Market’s expectations for tomorrow’s Fed interest rate decision meeting still haven’t
changed. The market is quite certain that the Fed will cut interest rate by 25 basis
points tomorrow, and 50% probability of another rate cut at the next meeting on
the 30th of October.
Yesterday’s speech by the ECB’s chief
economist, Philip Lane, indicates that he is confident with the volumes of debt purchases,
and that they are consistent with the parameters of the APP program for an
extended period of time and the ECB’s guidance of interest rates outlook is
still the most powerful monetary policy measure.
NY Empire State Manufacturing index
data that has been released yesterday shows that the manufacturing activity has
been lower than expected for September.
Indices for 17th of
September
Dow: -0.5 % (16th of
September)
S&P 500: -0.3% (16th
of September)
Nasdaq: -0.3% (16th of
September)
Nikkei: -0.1% (17th of September)
Chinese indices: -1.4% (17th
of September)
STOXX Europe 600 Index: -0.05% (17th
of September)
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