The Fed cut rates 25bps to 4.5-4.75%, you can find my recap here. The BoE also cut rates 25bps to 4.75% citing inflation returning to 2%, a need to proceed with cuts slowly, and that future cuts will continue as things play out as they expect.
Labor cost rose faster than expected. Jobless claims remained benign. Post FOMC markets remained higher with the S&P closing in on 6,000, led higher by the tech stalwarts while bond yields fell almost 10bps. The 2Y fell back to 4.22% and the 10Y 4.33%.
This Friday will feature UofM and otherwise not much. Ahead of a bond market close on Monday for Veteran's Day, you might as well make it a long weekend.
XTOD: 40+ Monkeys escape U.S. research facility Police have apparently set traps and are using thermal imaging to find them. Residents are advised to keep doors and windows shut and report sightings to 911.
XTOD: US expands bird flu testing after finding symptom-free infections in people http://reut.rs/40CuApn
XTOD (decent thread on betting markets): quick rip on why @Polymarket matters and why the future of information is markets markets are efficient at pricing information. if you have information or insight that others don't, there's a huge opportunity to generate alpha. alpha generation requires information edge.
XTOD: The Cult of Experts (an excerpt from Wanting)—in a world where there are few polymaths and little synthetic knowledge, guys like Silver can emerge projecting wisdom they do not possess and fool people. It’s a modern day gnostic impulse. Voegelin was right. https://pbs.twimg.com/media/GbyRYQRWkAk5ES8?format=jpg&name=900x900
XTOD: Be extra careful in the work environment with those who like to maintain their position through charm and being political, rather than getting things done. They are very prone to envying and hating those who work hard and get results. They will slander and sabotage you without any warning.
https://x.com/kofinas/status/1854615825694576938
https://x.com/Reuters/status/1854646290006605856
https://x.com/Melt_Dem/status/1854622714197426443
https://x.com/lukeburgis/status/1854516995443634609
https://x.com/RobertGreene/status/1854569515730059300
No comments:
Post a Comment