Home Market Market Update – February 23 – On Pins & Needles For Nothing

Market Update – February 23 – On Pins & Needles For Nothing


US Stocks Hold lower, but pause the fall US Dollar Increased to 104.50 Yields richened on short covering following the recent rout, but ended off of the day’s lows as Minutes from the FOMC unable to give new clues that would alter our expectations about the future. The 10-year yield was 3.916%, down 3.7 bps

FOMC Minutes solidified views for additional hikes The increase in the funds rate will continue throughout the year. Fed funds futures suggest an increased risk of a 50-bp hike at the March 21-22 meeting. The implied rate is 4.878%. June is at 5.30%, and May has a rate of 5.132%. The July peak is still at 5.358%. A 5.02% rate, which is currently priced in for January 2024, is one of the most notable factors in the market.

  • USD Index slightly below 104.51, It hovers around 23% Further rate increases have been fully priced into the market. 25 bp more on March 22 And another 25 bp as of May 3.
  • JPY – hovering around 134.70-134.90.
  • Stocks – The session ended with the same outcome, although the participants were unable to agree on the final point. US100 (0.13%), US500 (-0.16%), US30 (-0.26%).
  • Pioneer Natural Resources Co. (#PXD.s) reported $7.8bn record profits in 2022 — more than triple its previous record of $2.1bn the previous year. Pioneer is becoming…

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