Dovish Fed Sparks Bond & Stock Surge During Holiday Week
Dovish Fed Sparks Bond & Stock Surge During Holiday Week
Amid a holiday-shortened week of low liquidity, bonds and stocks rallied as the dollar drifted lower on the heels of dovish Fed ‘pause’ hopes which sent terminal rate expectations slightly lower and subsequent rate-cut expectations higher…
Source: Bloomberg
Bonds were bid with the long-end of the curve outperforming significantly, inverting the yield curve even deeper…
Source: Bloomberg
While yields fell on the week, the longest-duration stocks actually underperformed thanks to selling pressure today with The Dow leading on the week..
The early weakness of the week gave way on Tuesday and Wednesday to a big short squeeze back to unchanged for the “most shorted” stocks
The dollar fell for the 5th week of the last 6 to its lowest weekly close in 3 months…
Source: Bloomberg
Cryptos were unusually quiet this week (relatively speaking) with Bitcoin and Ethereum ending the week down around 1-2%. Solana outperformed…
Source: Bloomberg
Commodities were mixed on the week with crude sliding amid Russian price cap scheme headlines and China COVID cases soaring. Silver outperformed (with gold flat) amid the dovish title to market expectations…
Source: Bloomberg
Finally, the Fed balance sheet contracted on a year-over-year basis last week for the first time since Dec 2019…
Source: Bloomberg
Worth considering since, as Goldman’s Tony P noted this week: “…for every one dollar of US GDP, there are still 34 cents on the Fed balance sheet… just before COVID hit, that number was 22 cents. in the third quarter of 2008, it was just 6 cents. even at the end of WWII, it was just 11 cents.”
In other words – there’s a lot more shrinkage to come…
Come on England!!!!
Tyler Durden
Fri, 11/25/2022 – 13:00
https://www.zerohedge.com/markets/dovish-fed-sparks-bond-stock-surge-during-holiday-week
Jeremy Pruitt admitted to giving player’s mother cash in Chick-fil-A bag
Jeremy Pruitt admitted the rumor that he paid cash to a player’s mother in a fast food bag is true.
Peltola and Murkowski win in Alaska, defeat Trump-backed candidates
Alaskan voters issued a rebuke of Trump-backed candidates, reelecting Democratic Rep. Mary Peltola and Republican Sen. Lisa Murkowski.
Photos: Here’s what you missed if you didn’t go holiday shopping on Black Friday
Black Friday is not what it used to be, but still a moment for family and friends to get together and kick off the holiday season.
OR snowplow driver shortage expected to create problems going into winter
A shortage of snow plow drivers has made clearing the roads in Oregon a challenge, according to the Oregon Department of Transportation.
The agency has almost 40 vacancies for seasonal and permanent positions on its road maintenance team in the eastern part of the state, Oregon Public Broadcasting reported.
BILLS STADIUM BLANKETED IN SNOW AS BUFFALO PREPARES FOR GAME IN DETROIT AGAINST BROWNS
“We’re trying to be creative with shifts and we have some days where we don’t have coverage in the early hours of the morning,” said Rich Lani, a regional district manager for ODOT.
New federal licensing rules for drivers resulted in longer wait times to obtain a commercial driver’s license, which contributed to the driver shortage, the agency said.
SOUTHERN US FACING FIRST ACCUMULATING SNOW OF THE SEASON, RISK OF SEVERE STORMS
ODOT will pay for new snow plow drivers to get the special driver’s license. Many drivers leave the agency for new jobs after the six-month snow plow season is over.
“They’re highly employable now,” Lani said. “They have this Class A CDL in their pocket and a lot of private industry will lure them away, pay them more money and offer year-round employment.”
https://www.foxnews.com/us/or-snowplow-driver-shortage-expected-create-problems-winter
Stunning images of lunar surface captured by NASA’s Artemis 1 Orion spacecraft
NASA’s Artemis I Orion spacecraft’s camera snapped some stunning new images of the moon and its crafters this week.
Using the Optical Navigation Camera on the sixth day of the mission, the black and white images highlight billions of years of history.
“Orion uses the optical navigation camera to capture imagery of the Earth and the moon at different phases and distances, providing an enhanced body of data to certify its effectiveness under different lighting conditions as a way to help orient the spacecraft on future missions with crew,” NASA said in a caption alongside the photos.
Scientists have learned about the conditions of our early solar system by studying the composition, size and distribution of the craters, created long ago by collisions with asteroids.
FOLLOWING ‘UNEXPECTED LOSS’ NASA SAYS ORION SPACECRAFT COMMUNICATIONS RESTORED
Orion flew just over 81 miles above the lunar surface during its closest approach on Monday morning, traveling at 5,102 miles per hour.
At the time of the lunar flyby, the spacecraft was more than 230,000 miles from Earth.
Using the European Service Module, Orion is currently preparing for a critical maneuver that will send the capsule into a high and “distant” orbit around the moon.
NASA SPACE CAPSULE ROUNDS THE MOON
It will remain in this orbit for about a week to test spacecraft systems before returning to Earth.
On Thursday afternoon, the capsule was traveling 222,993 miles from Earth and 55,819 miles from the moon.
It will not splashdown in the Pacific Ocean until December.
Vikings’ Adam Thielen did not enjoy his Thanksgiving turkey reward
Vikings wide receiver Adam Thielen spits out turkey on national television after a win over the Patriots on Thanksgiving Day.
https://nypost.com/2022/11/25/adam-thielen-spit-out-nbc-turkey-after-vikings-thanksgiving-win/
World Cup 2022: US facing unfavorable odds ahead of pivotal match against England
The United States Men’s National Team are underdogs in their match against the England.
The U.S. is coming off a disappointing draw to Wales, while England dominated Iran in a 6-2 win earlier this week.
Shortly before Friday’s kickoff, the Americans were a +600 underdog, meanwhile England remained heavily favored with -195 odds to win at the Caesars Sportsbook.
CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COM
The odds are better for the U.S. ending the match in a draw with +310 odds. Much of the money that has been wagered on the match’s outright winner as been on England, not the U.S.
However, sportsbooks expect a fair amount of activity until kickoff.
USA VS. ENGLAND: EVERYTHING YOU NEED TO KNOW ABOUT THE MOST ANTICIPATED WORLD CUP MATCH
The U.S.-England matchup has received more bets than any other 2022 World Cup match so far, according to BetMGM official.
If the U.S. pulls off the major upset, it would not be the first time an underdog has prevailed in this year’s tournament.
Saudi Arabia took down Argentina earlier in Group stage action. Saudi Arabia entered the match as 25-1 underdogs. Japan also shocked Germany on Wednesday.
The favorite to win the World Cup is still Brazil at +250. France has the second-best odds at +650 at Caesars Sportsbook.
The U.S. is 125-1 to win the FIFA World Cup Trophy.
The U.S. and England kickoff at 2 p.m. ET at Al-Bayt Stadium in Qatar.
Ukrainian surgeons operate on child in darkness after missile strikes
Dramatic video shows a team of Ukrainian surgeons performing heart surgery on a child in a dark Kyiv hospital after Russian missiles knocked out power in the capital city.
https://nypost.com/2022/11/25/ukrainian-surgeons-operate-on-child-in-darkness-after-missile-strikes/
‘Nine West’ owner debunks reported deal to sell iconic tower near Central Park
An article in the Real Deal last month set off a wild guessing game when it reported that Stefan Soloviev was “finalizing an agreement” to sell 9 West.
https://nypost.com/2022/11/25/nine-west-owner-debunks-reported-deal-to-sell-nyc-tower/