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☆ Exclusive: BOJ plans to exit from easy policy next year but needs some good fortune
▼ + stars: | 2023-11-02 | by ( Leika Kihara | ) www.reuters.com time to read: +6 min

Ueda's intentions are based on interviews with six sources familiar with the BOJ's thinking, including government officials with direct interaction with the bank. "Given uncertainty over the economic outlook, the BOJ probably wants to wait at least until spring next year in normalising policy," said another source. If the yen continues to fall, that could heighten political pressure on the BOJ to exit sooner than it wants, some analysts say. The risk of sharp yen falls and an inflation overshoot may leave the BOJ with less time than it wants to exit. "The BOJ doesn't have much time left, a point governor Ueda is probably mindful of."

Persons: Kazuo Ueda, Ueda, Kuroda, it's, Robert Samson, Ueda hasn't, Hiromi Yamaoka, Leika Kihara, Anisha, Shri Navaratnam Organizations: Japan, Kyodo, REUTERS, Bank of Japan, Nikko Asset Management, Thomson Locations: Tokyo, Japan, BOJ, YCC, TOKYO, U.S, Bengaluru

TOKYO (AP) — Asian shares were mostly higher Thursday after the U.S. Federal Reserve indicated it may not need to pump the brakes any harder on Wall Street and the economy. Longer-term Treasury yields have in turn been rising rapidly, with the 10-year Treasury yield topping 5% last month to reach its highest level since 2007. He also said the Fed is not considering cuts to interest rates, which can act like steroids for financial markets. On Wall Street, the S&P 500 rose 1.1% to 4,237.86 and the Dow Jones Industrial Average gained 0.7% to 33,274.58. Big Tech stocks were winners Wednesday, along with other high-growth stocks typically seen as the biggest beneficiaries of easier interest rates.

Persons: Australia's, Korea's Kospi, Seng, It’s, ” Stephen Innes, Fumio Kishida, Stocks, Jerome Powell, Powell, ” Powell, Powell’s, Yung, Yu Ma, “, Ma, Brent Organizations: TOKYO, U.S . Federal, Nikkei, Federal Reserve, Management, Fed, Treasury, BMO Wealth Management, Dow Jones Industrial, Nasdaq, Big Tech, U.S Locations: Hong, Shanghai, Japan

☆ The stock market is following a rare pattern that could signal double-digit gains next year
▼ + stars: | 2023-11-02 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The stock market is following a rare pattern that could signal big gains next year, NDR said. The S&P 500 rallied for five months straight this year, followed by three consecutive months of losses. A five-month winning streak earlier this year was immediately followed by a three-month selloff from August through October. That's an unusual pattern in the history of the market, one that has only been observe four times since 1926. AdvertisementAdvertisement"Over the past 50 years, the S&P 500 was up every time from one to 12 months later," the strategists said.

Persons: —, Ned Davis, That's, Tom Lee Organizations: NDR, Service, Ned Davis Research, Treasury

Plenty of bond investors have been burned calling a bottom in a selloff that has taken Treasuries to the cusp of an unprecedented third straight year of losses. One potential near-term pitfall is Friday’s U.S. payrolls data, which could revive expectations of Fed hawkishness if they come in stronger than expected. The rise in Treasury yields has reached far beyond the bond market. The S&P 500 is down nearly 8% from its July high, as rising bond yields offer investment competition to equities while threatening to raise the cost of capital for companies. “The market is running with the idea that the Fed is done hiking, which they may or may not be,” he said.

Persons: Jerome Powell nodded, Bonds, ”, Jack McIntyre, “, ” McIntyre, Stanley Druckenmiller, Duquesne, Bond, Josh Emanuel, Powell, We've, Greg Wilensky, Janus Henderson, ” Wilensky, Noah Wise, Davide Barbuscia, David Randall, Ira Iosebashvili Organizations: Treasury, Federal, Fed, U.S . Treasury, Brandywine, Janus, Janus Henderson Investors, Allspring Global Investments, Thomson Locations: U.S, Wilshire

☆ Bank of England leaves interest rates at 15-year high, says policy to stay tight for 'extended period'
▼ + stars: | 2023-11-02 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

LONDON — The Bank of England on Thursday left interest rates unchanged, but said monetary policy will likely need to stay tight for an "extended period of time." The Monetary Policy Committee voted 6-3 in favor of keeping the main Bank rate at 5.25%, with three members preferring another 25-basis point hike to 5.5%. "The MPC's latest projections indicate that monetary policy is likely to need to be restrictive for an extended period of time. Further tightening in monetary policy would be required if there were evidence of more persistent inflationary pressures," the MPC said in its Thursday statement. It added that monetary policy will need to be "sufficiently restrictive for sufficiently long" to return inflation to the 2% target sustainably.

Persons: Jeremy Hunt, Jerome Powell Organizations: Bank of England, LONDON, Bank, MPC, U.S . Federal Reserve, Federal, Treasury, Bank of Locations: British, Europe

☆ UK and Europe's borrowing costs slide after central banks hold rates
▼ + stars: | 2023-11-02 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

People walk outside the Bank of England in the City of London financial district, in London, Britain, January 26, 2023. The 10-year yield on U.K. government bonds, known as gilts, was 13 basis points lower at 4.366% at 3:20 p.m. in London following the Bank of England announcement at midday. The 2-year yield, a reflection of interest rate expectations, was down 8 basis points at 4.711%. Elsewhere in Europe, bond yields have also been sliding. German 10-year bond yields fell following the Fed decision and were around 5 basis points lower on Thursday, while Italy's 10-year yield was down 9 basis points.

Persons: Henry Nicholls, —, Philip Lane, Jerome Powell's, Steve Englander Organizations: Bank of England, Reuters, Federal Reserve, European Central Bank, ECB, Research, Standard Chartered, Treasury Locations: City, London, Britain, Europe, North America, U.S

☆ Morning Bid: Markets cheer as Powell finds his balance
▼ + stars: | 2023-11-02 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

Federal Reserve Board Chair Jerome Powell answers a question at a press conference following a closed two-day meeting of the Federal Open Market Committee on interest rate policy at the Federal Reserve in Washington, U.S., November 1, 2023. REUTERS/Kevin Lamarque Acquire Licensing RightsNov 2 (Reuters) - A look at the day ahead in European and global markets from Wayne Cole. It's been a day for relief rallies in Asia as investors became increasingly confident the next move in U.S. interest rates will be down, not up. While Federal Reserve Chair Jerome Powell maintained the option of another hike, he sounded less than committed to the idea. The dovish mood proved infectious as investors pared back rate risks across much of the developed world.

Persons: Jerome Powell, Kevin Lamarque, Wayne Cole, It's, presser, Powell, EURIBOR, Edouard Fernandez, Isabel Schnabel, Philip Lane, Sam Holmes Organizations: Federal, Committee, Federal Reserve, REUTERS, Treasury, The Bank of, U.S, Bank of England, Norges Bank, Thomson Locations: Washington , U.S, Wayne, Asia, The Bank of England, China

☆ CNBC Daily Open: A history-making three months for stocks
▼ + stars: | 2023-11-01 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

(Photo by DOUG KANTER / AFP) (Photo by DOUG KANTER/AFP via Getty Images) Doug Kanter | Afp | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. All three indexes declined for three consecutive months — the first time for the S&P and Dow since March 2020. Even the Magnificent Seven stocks that led most — if not all — the gains in the S&P this year have been struggling in October. But nothing lasts forever: Even cold November rain may wash away the bitter taste of the past three months.

Persons: Hurricane Floyd, Floyd, James Lee Witt, DOUG KANTER, Doug Kanter, they're, Ross Mayfield, Baird, Tesla Organizations: AMD, Federal Emergency Management Agency, AFP, Getty, Afp, CNBC, Dow Jones, Nasdaq, Dow, Investment, Federal, Nvidia, Microsoft, Amazon Locations: New York City, Hurricane, Wilmington , NC, North Carolina

Federal Reserve Chair Jerome Powell speaks during a meeting of the Economic Club of New York in New York City, U.S., October 19, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 2 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The MSCI World equity index rose just over 1%, its best day since August while the Nasdaq jumped 1.6%, its fourth rise in a row, for its best day since August too. Malaysia's central bank is expected to keep its key interest rate at 3% and through 2024, despite a weakening ringgit, amid stable domestic inflation and a steady growth outlook. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Jerome Powell, Brendan McDermid, Jamie McGeever, Wall, Jerome Powell's, Powell, Evergrande, Josie Kao Organizations: Economic, of New, REUTERS, Treasury, Bank of, Nikkei, Nasdaq, South, South Korea CPI, Thomson, Reuters Locations: of New York, New York City, U.S, Malaysian, Asia, Hong Kong, South Korea, July's, Malaysia, Australia

☆ Asian stocks stutter ahead of Fed, frail yen in focus
▼ + stars: | 2023-11-01 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

Passersby are reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. "Once again market players have been left frustrated by the lack of urgency shown by the BOJ, and either closed yen longs or flipped into outright yen shorts." The yen strengthened 0.27% to 151.26 per dollar following the comments but remained close to one-year lows of 151.74 it touched on Tuesday. FED AWAITSOvernight, Wall Street's main indexes ended higher, with investors looking ahead to the Fed policy decision later in the day, when the central bank is expected to stand pat on interest rates. Oil prices inched higher ahead of the Fed decision, with the market keeping a close eye on the latest developments in the Israel-Hamas conflict.

Persons: Issei Kato, HSI, Chris Weston, Masato Kanda, Jerome Powell, Erik Weisman, Powell, Sterling, Brent, Ankur Banerjee, Shri Navaratnam Organizations: REUTERS, Rights, Federal Reserve, Japan's Nikkei, China, Bank of, ING, Traders, MFS Investment Management, Treasury, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Asia, Pacific, Israel

☆ Instant View: BOJ modifies bond yield control, re-defines long-term rate cap
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +10 min

But it's also likely the BOJ have their finger on the intervention button to cap any runaway rally on USD/JPY." Nevertheless, this is working in a way to increase the volatility of the global rates market. This means it will still have a certain distance until the BOJ exit from the negative rate policy." "A yield cap isn't a yield cap if you change it every time the market gets close." The Bank of Japan could lift the negative policy rate to zero over the coming year.

Persons: Kim Kyung, KYLE RODDA, MATT SIMPSON, JPY, it's, NOMURA, They've, TONY SYCAMORE, normalisation, TAKAYUKI MIYAJIMA, ROB CARNELL, they're, JEFF NG, TOM NASH, OMORI, SHOTARO KUGO, me, IZURU KATO, MARCEL THIELIANT, today's, FREDERIC NEUMANN, CHRISTOPHER WONG, BOJ's, Sherry Jacob, Phillips Organizations: National Printing Bureau, Bank of Japan, REUTERS, Bank of, Nikkei, SAXO, SONY, ING, UBS, CHIEF, DAIWA, OF, HSBC, Global, Thomson Locations: Tokyo, Japan, Bank of Japan, MELBOURNE, BRISBANE, SINGAPORE, TOKYO, U.S, SYDNEY, ASIA, PACIFIC, CHIEF JAPAN, stagflation, OF ASIA, YCC, HONG KONG

☆ BOJ chooses slow path out of zero-rate limbo
▼ + stars: | 2023-10-31 | by ( Peter Thal Larsen | ) www.reuters.com time to read: +4 min

REUTERS/Susana Vera Acquire Licensing RightsHONG KONG, Oct 31 (Reuters Breakingviews) - The Bank of Japan (8301.T) is taking the long road out of zero-interest rate limbo. On the face of it, BOJ Governor Kazuo Ueda and his colleagues made few policy changes at their latest meeting. The short-term interest rate remains negative, while the official yield target for 10-year Japanese government bonds is unchanged at 0%. However, the real challenge for Ueda is when to end the era of negative short-term interest rates. The BOJ’s nine-member board maintained its target for short-term interest rates of -0.1%.

Persons: Kazuo Ueda, Susana Vera, Haruhiko Kuroda, Ueda, “, Antony Currie, Thomas Shum Organizations: Japan, International Monetary Fund, World Bank, REUTERS, Reuters, Bank of Japan, U.S, Thomson Locations: Marrakech, Morocco, HONG KONG, Japan

☆ Yen tumbles after BOJ stands pat, introduces some flexibility to yield cap
▼ + stars: | 2023-10-31 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. That sent the yen sliding nearly 0.7% against the dollar , past the 150 per dollar threshold to hit an intraday low of 150.12, before steadying to 149.93 per dollar. The euro similarly jumped roughly 0.5% against the yen following the decision . Spain's 12-month inflation in October was unchanged from the previous month at 3.5%, preliminary data also out on Monday showed. The figures come ahead of euro zone inflation data due later on Tuesday.

Persons: Yen, Dado Ruvic, Thierry Wizman, Sterling, Rae Wee, Shri Navaratnam, Simon Cameron, Moore Organizations: REUTERS, Rights, Bank of Japan, Nikkei, Federal Reserve, U.S ., Bank of England, Australian, New Zealand, Thomson Locations: Rights SINGAPORE, steadying, U.S, Germany

☆ Dollar holds near 150 yen as c.bank policy, data deluge awaited
▼ + stars: | 2023-10-30 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

Euro, Hong Kong dollar, U.S. dollar, Japanese yen, British pound and Chinese 100-yuan banknotes are seen in a picture illustration shot January 21, 2016. A PMI data deluge, inflation figures in the euro zone and U.S. nonfarm payrolls also add to the mix of the event-packed week. "I think for the FOMC and the Bank of England, they will be pretty low key with them leaving interest rates on hold. The BOJ meeting will be the most interesting one (given) heightened speculation over a policy tweak at this meeting." The yen was last 0.1% lower at 149.75 per dollar, getting a slight reprieve after having struck a one-year trough of 150.78 per dollar last week.

Persons: Jason Lee, nonfarm payrolls, Carol Kong, Israel, Chris Weston, Christian Scherrmann, Rae Wee, Muralikumar Organizations: Hong, REUTERS, Rights, Bank of, U.S . Federal Reserve, Bank of England, Commonwealth Bank of Australia, New Zealand, Aussie, Fed, Thomson Locations: Hong Kong, Rights SINGAPORE, Bank of Japan, Gaza's, Palestinian, U.S

☆ BOJ likely to lift inflation forecasts, debate tweak to yield cap
▼ + stars: | 2023-10-30 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

The BOJ sets a target of around 0% for the 10-year yield under YCC. Since then, rising global bond yields and persistent inflation have put the BOJ in a tight spot with the 10-year JGB yield threatening to breach the 1% cap. The 10-year bond yield rose to a fresh decade high of 0.955% on Tuesday. Sources told Reuters last week the BOJ could debate further tweaks to YCC at the Oct. 30-31 meeting to relax its grip on the 10-year yield. The BOJ is widely expected to maintain the 0% target for the 10-year yield and that for short-term rates at -0.1%.

Persons: BOJ, Ueda, Ataru Okumura, Kazuo Ueda, Leika Kihara, Sam Holmes Organizations: Bank of, Nikkei, Nikko Securities, Reuters, Thomson Locations: TOKYO, Bank of Japan, Japan

☆ Dollar holds near 150 yen as central bank policy, data deluge awaited
▼ + stars: | 2023-10-30 | by ( ) www.cnbc.com time to read: +3 min

A Chinese bank employee counts 100-yuan notes and U.S. dollar bills at a bank counter in Nantong in China's eastern Jiangsu province on August 6, 2019. The dollar inched broadly higher in cautious trade on Monday and held near 150 yen as traders looked to a policy decision by the Bank of Japan later in the week, alongside other major central bank meetings and a slew of economic data releases globally. A PMI data deluge, inflation figures in the euro zone and U.S. nonfarm payrolls also add to the mix of the event-packed week. "I think for the FOMC and the Bank of England, they will be pretty low key with them leaving interest rates on hold. The yen was last 0.1% lower at 149.75 per dollar, getting a slight reprieve after having struck a one-year trough of 150.78 per dollar last week.

Persons: nonfarm payrolls, Carol Kong, Israel, Chris Weston, Christian Scherrmann Organizations: Bank of, U.S . Federal Reserve, Bank of England, Commonwealth Bank of Australia, New Zealand, Aussie, Fed Locations: Nantong, China's, Jiangsu, Bank of Japan, Gaza's, Palestinian, U.S

The data reinforces expectations the Bank of Japan (BOJ) will revise up its inflation forecasts when it produces fresh quarterly projections at next week's policy meeting. The Tokyo core consumer price index (CPI), which excludes volatile fresh food but includes fuel costs, rose 2.7% in October from a year earlier, government data showed on Friday, exceeding market forecasts for a 2.5% gain. The so-called "core core" index that strips away both fresh food and fuel prices - closely watched by the BOJ as a gauge of broader price trends - rose 3.8% in October from a year earlier after a 3.9% increase in September, the data showed. "With services inflation continuing to accelerate, it will take a long time before inflation falls back below the BOJ's 2% target." The BOJ remains a global dovish outlier, having maintained ultra-loose policy even as major central banks elsewhere raised interest rates aggressively to fight rampant inflation.

Persons: Androniki, Marcel Thieliant, Takahiko Wada, Shri Navaratnam, Sam Holmes Organizations: REUTERS, Bank of Japan, Reuters Graphics, Capital Economics, Reuters, Thomson Locations: Tokyo, Japan, TOKYO, Asia

☆ 'The economy is defying gravity': The no-recession trade is to buy high-yield bonds, JPMorgan portfolio manager says
▼ + stars: | 2023-10-26 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

"The economy is defying gravity" after third-quarter GDP approached 5%, according to JPMorgan portfolio manager Phil Camporeale. If no recession materializes, as Camporeale expects, then investors should buy high-yield bonds. AdvertisementAdvertisementThe recession everyone's been waiting for over the past 18 months isn't coming anytime soon after the release of third-quarter GDP data, according to JPMorgan portfolio manager Phil Camporeale. The US economy posted third-quarter GDP growth of 4.9%, representing its strongest quarterly growth since late 2021, and that's after multiple quarters of above-trend growth. AdvertisementAdvertisementWith a recession potentially averted, as he expects, investors should be buying high-yield bonds that are returning upwards of 9%.

Persons: Phil Camporeale, Camporeale, — Organizations: Service, CNBC, Federal Reserve

☆ We really like U.S. high-yield right now, says JPMorgan's Phil Camporeale
▼ + stars: | 2023-10-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe really like U.S. high-yield right now, says JPMorgan's Phil CamporealePhil Camporeale, JPMorgan Asset Management multi-asset portfolio manager, joins 'Squawk Box' to discuss the latest market trends, the third quarter GDP data, why he's positioning for a soft landing and believes the Fed has more to risk being dovish, and more.

Persons: Phil Camporeale Phil Camporeale Organizations: JPMorgan Asset Management

☆ European Central Bank holds interest rates steady after 10 consecutive hikes
▼ + stars: | 2023-10-26 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The European Central Bank ended its run of interest rate hikes on Thursday, despite new upside risks to inflation from oil markets amid the Israel-Hamas war. The key rate is set to remain at a record high of 4%, where it was brought through 10 consecutive hikes that began in July 2022 and brought rates back into positive territory for the first time since 2011. The Governing Council said recent information confirmed its medium-term outlook for inflation to reach 2.1%. "Inflation is still expected to stay too high for too long, and domestic price pressures remain strong. Markets had priced in a more than 98% chance of a hold, after the ECB gave a strong indication at its previous meeting that rates had peaked.

Organizations: European Central Bank, ECB Locations: Israel

A view shows the logo of the European Central Bank (ECB) outside its headquarters in Frankfurt, Germany March 16, 2023. That was a relief to financial markets, roiled in recent weeks by a surge in government bond yields led by U.S. Treasuries. The central bank reiterated it would reinvest all the cash it receives from maturing bonds it holds under its 1.7 trillion euro pandemic-era bond scheme until the end of 2024. Instead, the ECB kept the emphasis on slowing inflation, raising investors' conviction that September's rate rise was the central bank's last. And inflation risks have not disappeared.

Persons: Heiko Becker, Christine Lagarde, Lagarde, Piet Christiansen, Gabriele Foa, reinvestments, Marcus Brookes, Sabrina Kanniche, Yoruk Bahceli, Naomi Rovnick, Amanda Cooper, Nick Zieminski Organizations: European Central Bank, REUTERS, ECB, U.S, Treasuries, Reuters, Danske Bank, The Bank of, Algebris, Quilter Investors, Asset Management, Thomson Locations: Frankfurt, Germany, Italy, Copenhagen, Israel, The Bank of Canada, wean, Ukraine

☆ Big central banks hit pause, with rate cuts far off
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +5 min

On Oct. 23, Fed Chair Jay Powell said a strong economy and tight jobs market could warrant more rate rises. Interest rate futures show traders believe the BoE will not cut rates, now at their highest since 2008, until at least June 2024. "The Governing Council’s past interest rate increases continue to be transmitted forcefully into financing conditions," the ECB said, adding it would follow a "data-dependent" approach and future decisions would be based on incoming data. Prime Minister Jonas Gahr Stoere told parliament last week interest rates may have peaked. Reuters Graphics Reuters Graphics8) AUSTRALIAThe Reserve Bank of Australia held rates steady at 4.1% for a fourth meeting in October.

Persons: Jonathan Ernst, Jay Powell, BoE, Jonas Gahr Stoere, Michele Bullock, Naomi Rovnick, Harry Robertson, Alun John, Yoruk Bahceli, Samuel Indyk, Chiara Elisei, Kripa Jayaram, Pasit, Riddhima, Sumanta Sen, Vineet, Amanda Cooper, Giles Elgood Organizations: . Federal, REUTERS, European Central Bank, Federal Reserve, Bank of England, UNITED, Reuters, Reserve Bank of New Zealand, BRITAIN, Bank of Canada, BoC, ECB, Norges Bank, Reuters Graphics Reuters, Reserve Bank of Australia, Bank of Japan, Thomson Locations: Washington, Japan, hawkish, dovish, NORWAY, SWEDEN Sweden, SWITZERLAND, Swiss, Gaza, JAPAN

☆ A bullish trade on tech stocks using options that could cost nothing, if it moves in right direction
▼ + stars: | 2023-10-20 | by ( Jeff Kilburg | ) www.cnbc.com time to read: +7 min

The highly anticipated speech moved the 10-year yield lower to nearly 4.90% as another rate hike in 2023 seemingly has become less likely. The option strategy that I will utilize is a credit spread but, better known as a risk reversal. If an investor is long a stock, they could create a short risk reversal to hedge their position by buying a put option and selling a call option. No cost...with a catch This risk reversal is being used as an aggressive bull trade. While there is a lot of time before this option strategy expires, there is an opportunity to manage this spread as it either moves for or against me.

Persons: Jerome Powell, dovishly, Powell, Powell's, Long Organizations: Nasdaq, Federal, Treasury Locations: U.S

☆ Powell's a bit more dovish than others, November rate hike likely off the table: F.L. Putnam's Hazen
▼ + stars: | 2023-10-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPowell's a bit more dovish than others, November rate hike likely off the table: F.L. Putnam's HazenEllen Hazen, portfolio manager at F.L. Putnam Investment Management, joins 'Squawk on the Street' to discuss how Hazen perceived Fed chair Powell's latest comments, what happens if the 10-year treasury yield keeps rising, and more.

Persons: Putnam's Hazen Ellen Hazen, Hazen Organizations: Putnam Investment Management Locations: F.L

☆ VIEW Fed's Powell: Strong economy may still require rate increases - Reuters News
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

Powell said U.S. central bankers are moving carefully on policy now after aggressive rate hikes last year to give time for tighter conditions to slow the economy and inflation. "Quite clear that the market is reading into Powell's comments on tighter financial conditions potentially leading to the tightening cycle being done and dusted. Obviously other FOMC officials have said similar, but hearing so 'from the horse's mouth' gives the statement extra credibility." The tone was a bit more dovish than other Fed officials recently. "It's hard to make too much of a determination about what happens with knee jerk reactions immediately after any type of Fed comments ...

Persons: Jerome Powell, Powell, MICHAEL BROWN, MICHAEL JAMES, There's, CHRIS ZACCARELLI Organizations: U.S, Treasury, ALLIANCE, Global Finance, Markets, Thomson Locations: U.S, CHARLOTTE, NC

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