$40 bln, 5-year Note Auction Results: Yield 2.47% (Expected 2.4625%), Bid/Cover 2.40x (5-auction avg 2.22x); Indirect Bidders 44.8% (5-auction avg 43.1%)
Fed says rates to stay "exceptionally low" for extended period
Fed says to gradually slow pace of purchases of agency and MBS debt, expects will be executed by end Q1
Fed says to gradually slow pace of purchases of agency and MBS debt, expects will be executed by end Q1
Ja Briefingu vahendusel siis pikem kokkuvõte ka:
Information received since the Federal Open Market Committee met in August suggests that economic activity has picked up following its severe downturn. Conditions in financial markets have improved further, and activity in the housing sector has increased. Household spending seems to be stabilizing, but remains constrained by ongoing job losses, sluggish income growth, lower housing wealth, and tight credit. Businesses are still cutting back on fixed investment and staffing, though at a slower pace; they continue to make progress in bringing inventory stocks into better alignment with sales. Although economic activity is likely to remain weak for a time, the Committee anticipates that policy actions to stabilize financial markets and institutions, fiscal and monetary stimulus, and market forces will support a strengthening of economic growth and a gradual return to higher levels of resource utilization in a context of price stability. With substantial resource slack likely to continue to dampen cost pressures and with longer-term inflation expectations stable, the Committee expects that inflation will remain subdued for some time. In these circumstances, the Federal Reserve will continue to employ a wide range of tools to promote economic recovery and to preserve price stability. The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period. To provide support to mortgage lending and housing markets and to improve overall conditions in private credit markets, the Federal Reserve will purchase a total of $1.25 trillion of agency mortgage-backed securities and up to $200 bln of agency debt. The Committee will gradually slow the pace of these purchases in order to promote a smooth transition in markets and anticipates that they will be executed by the end of the first quarter of 2010. As previously announced, the Federal Reserve's purchases of $300 bln of Treasury securities will be completed by the end of October 2009. The Committee will continue to evaluate the timing and overall amounts of its purchases of securities in light of the evolving economic outlook and conditions in financial markets. The Federal Reserve is monitoring the size and composition of its balance sheet and will make adjustments to its credit and liquidity programs as warranted... Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; Elizabeth A. Duke; Charles L. Evans; Donald L. Kohn; Jeffrey M. Lacker; Dennis P. Lockhart; Daniel K. Tarullo; Kevin M. Warsh; and Janet L. Yellen.
Information received since the Federal Open Market Committee met in August suggests that economic activity has picked up following its severe downturn. Conditions in financial markets have improved further, and activity in the housing sector has increased. Household spending seems to be stabilizing, but remains constrained by ongoing job losses, sluggish income growth, lower housing wealth, and tight credit. Businesses are still cutting back on fixed investment and staffing, though at a slower pace; they continue to make progress in bringing inventory stocks into better alignment with sales. Although economic activity is likely to remain weak for a time, the Committee anticipates that policy actions to stabilize financial markets and institutions, fiscal and monetary stimulus, and market forces will support a strengthening of economic growth and a gradual return to higher levels of resource utilization in a context of price stability. With substantial resource slack likely to continue to dampen cost pressures and with longer-term inflation expectations stable, the Committee expects that inflation will remain subdued for some time. In these circumstances, the Federal Reserve will continue to employ a wide range of tools to promote economic recovery and to preserve price stability. The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period. To provide support to mortgage lending and housing markets and to improve overall conditions in private credit markets, the Federal Reserve will purchase a total of $1.25 trillion of agency mortgage-backed securities and up to $200 bln of agency debt. The Committee will gradually slow the pace of these purchases in order to promote a smooth transition in markets and anticipates that they will be executed by the end of the first quarter of 2010. As previously announced, the Federal Reserve's purchases of $300 bln of Treasury securities will be completed by the end of October 2009. The Committee will continue to evaluate the timing and overall amounts of its purchases of securities in light of the evolving economic outlook and conditions in financial markets. The Federal Reserve is monitoring the size and composition of its balance sheet and will make adjustments to its credit and liquidity programs as warranted... Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; Elizabeth A. Duke; Charles L. Evans; Donald L. Kohn; Jeffrey M. Lacker; Dennis P. Lockhart; Daniel K. Tarullo; Kevin M. Warsh; and Janet L. Yellen.
Ühesõnaga majandus õitseb nii mis kole, sellepärast ongi vaja olematuid intressimäärasid.
:D
jim,
natuke kibestunud?
natuke kibestunud?
Nasdaq viimase 12 kuu tippudel, S&P 500 11.5 kuu tippudel ning Dow Jones Industrial Average 11 kuu tippudel 9 910 punkti peal, lähenedes jõudsalt 10 000 punkti piirile... Turg tõuseb nii kaua, kuni ta tõuseb. Seni on lihtsalt nii, et 'all news is good news'
Keegi sai vist kurjaks:)
FED-i MBS tagasiostmise programmi pikendamine on väikene ohu märk ning hilisem teade, et kokkuostetavat hulka vähendatakse on hetkel kenasti turul ka näha
SideKick,
Kas kuidagi nii saaks, et sa iga minu (ja teiste, kes ei olnud investeeritud Eesti aktsiatesse) iga lause peale ei tuleks välja jutuga "I told you! I TOLD YOU! On sitt tunne jah? Nananana, ma olen investeerimiskunn". Eks? Sul oli õigus, mul mitte, kõik teavad seda juba. Kibestunud? Jah, muidugi, täpselt sama palju kui 3-5 korda päevas, kui mingi võimalus turul kasutamata jääb. Ilgelt pissed off olen alati, ausõna. Täna näiteks olin ilgelt pissed off, et ma kõike TLAB ära ei shortinud, mida eelturul miskipärast close juurest pakuti. Ropendasin ka natuke kõva häälega, loodetavasti naabrid ei kuulnud.
BTW, kui kibestunud sa oled, et sa aastal 1986 MSFT ei ostnud? Või KERX 10 sendiga märtsis?
Kas kuidagi nii saaks, et sa iga minu (ja teiste, kes ei olnud investeeritud Eesti aktsiatesse) iga lause peale ei tuleks välja jutuga "I told you! I TOLD YOU! On sitt tunne jah? Nananana, ma olen investeerimiskunn". Eks? Sul oli õigus, mul mitte, kõik teavad seda juba. Kibestunud? Jah, muidugi, täpselt sama palju kui 3-5 korda päevas, kui mingi võimalus turul kasutamata jääb. Ilgelt pissed off olen alati, ausõna. Täna näiteks olin ilgelt pissed off, et ma kõike TLAB ära ei shortinud, mida eelturul miskipärast close juurest pakuti. Ropendasin ka natuke kõva häälega, loodetavasti naabrid ei kuulnud.
BTW, kui kibestunud sa oled, et sa aastal 1986 MSFT ei ostnud? Või KERX 10 sendiga märtsis?
kuidas need Eesti aktsiad äkki sisse said, kui me rääkisime USA majandusest ja FEDi tegemistest?
Nüüd hakkab huvitavaks minema, siit minumeelest suurem võimalus päev punases lõpetada. Vt. EUR/USD
Eem, millest sa siis üldse räägid, USA aktsiatesse investeerimise peale pole ma isegi mõelnud mitte. Ja mida rohkem raha turul, seda lihtsam mu tegevus kauplejana on, niiet bring it on. See ei tähenda, et ma ei võiks mõningate asjade suhtes skeptiline olla, eksju?
Sinu esimene kommentaar oli täis sarkasmi USA majanduse ja/või FED suunal. Aga mina olen kuulnud ütlust, et don't fight the FED. Sinu kommentaarist jääb kuidagi mulje, et sa pead ennast FEDi vanadest targemaks. Paranda mind, kui ma valesti aru sain.
muide, nanananaaa jaoks Eestis on veel vara. Kui Merko 50 ja OEG 10 euri, siis... :)
muide, nanananaaa jaoks Eestis on veel vara. Kui Merko 50 ja OEG 10 euri, siis... :)
No aga kas tundub loogiline, et kui majanduses on kõik sigavinge ja kõik halb ammu möödas, siis peab endiselt 0-intresse "for extended period" säilitama? Või see viitab, et kõige hullem on küll möödas, aga natuke upakil on see värk siiski, nii et peab supportima madalate intressidega?
Homme jõuaks, aga krdi OMX tüübid ei tõsta limiiti :(
Information received since the Federal Open Market Committee met in August suggests that economic activity has picked up following its severe downturn. Conditions in financial markets have improved further, and activity in the housing sector has increased. Household spending seems to be stabilizing, but remains constrained by ongoing job losses, sluggish income growth, lower housing wealth, and tight credit.
Milline lõik siin täpselt kirjeldab, et majandus on sigavinge?
Muide, FEDi poliitika peamine eesmärk on, et massidel ei läheks eluolu liiga halvaks (ja vahepeal ka liiga heaks). Ja kui selleks on vaja tekitada natuke inflatsiooni, siis so be it. Neid ei huvita börsikunnid, kes tahavad võileiva hinna eest võibolla aktsiaid osta.
Milline lõik siin täpselt kirjeldab, et majandus on sigavinge?
Muide, FEDi poliitika peamine eesmärk on, et massidel ei läheks eluolu liiga halvaks (ja vahepeal ka liiga heaks). Ja kui selleks on vaja tekitada natuke inflatsiooni, siis so be it. Neid ei huvita börsikunnid, kes tahavad võileiva hinna eest võibolla aktsiaid osta.
Ma arvan, et nüüd tuleb korrektsioon :)
Umbes nii suur: http://pilt.delfi.ee/show_original/4327029/