The FED was more dovish then their initial statement not mentioning Yellens remark that a 'considerable period' for the first rate rise and the end of QE is around '6 months'.
This boosted the market as the Nasdaq as up 70 points for the day, and Bonds traded higher with Spreads coming down to previous lows. Its typical that the FED still holding this market like a premature baby not wanting to do anything that stops the Equities march higher and higher. It looks like at this rate the FED will never have the bottle to pull the trigger on rates and it will stay like this for years to come, as the new normal is this economy is what it is now.
I'm looking to buy Spreads this morning averaging if needs be but judging by the volume it looks like its going to be another hard grind.
At 12pm we have the BoE rate meeting, so hoping for some volatility off that, but its likely that Indices will continue its grind higher, and Bonds will be going higher also.
This boosted the market as the Nasdaq as up 70 points for the day, and Bonds traded higher with Spreads coming down to previous lows. Its typical that the FED still holding this market like a premature baby not wanting to do anything that stops the Equities march higher and higher. It looks like at this rate the FED will never have the bottle to pull the trigger on rates and it will stay like this for years to come, as the new normal is this economy is what it is now.
I'm looking to buy Spreads this morning averaging if needs be but judging by the volume it looks like its going to be another hard grind.
At 12pm we have the BoE rate meeting, so hoping for some volatility off that, but its likely that Indices will continue its grind higher, and Bonds will be going higher also.
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