Fed’s Rosengren not on board for rate cut: ‘I think we should wait’
- Boston Fed President Eric Rosengren told CNBC in a Friday interview that he does not see a rate cut as necessary.
- The economy “is quite strong” and is not showing signs that more central bank accommodation is needed, he said.
- Markets widely expect a Fed rate cut this month, with officials including Chairman Jerome Powell dropping hints that policy loosening is on the way. Read More @ https://www.cnbc.com/2019/07/19/feds-rosengren-not-on-board-for-rate-cut-i-think-we-should-wait.html
The market will continue to swing as the FED PREPARES – to confuse the market with different signals. We will continue selling USD and BUY PHP Peso. Philippine Stock is our next chase as the Top 15 Stocks looks good.
Bloom, Ayala and BPI are our favourites for this week.
GLOBAL MARKET on the other hand looks different as Energy sectors goes almost 10% lower; Commodity based currencies all rally to new highs and will continue to rise as long as the FED maintain to cut rate.
PHILIPPINE STOCKS INDEX – PSEI Look good for a new high this week. We continue to BUY.
BE CAUTIOUS MOVING FORWARD AS THE FED MIGHT DISAPPOINT THE MARKET WITH NO RATE CUTS…
The Fed could be about to disappoint the market, warns Well Fargo Securities
Wall Street’s Fed frenzy might not turn out how investors expect.
That’s at least according to Michael Schumacher, global head of rate strategy and managing director at Wells Fargo Securities, who said investors may find themselves disappointed by the Fed’s next move.
But what the stock market is pricing in with regards to Fed policy might be too aggressive, Schumacher told CNBC’s “Futures Now” on Thursday.
“We think they’ll come in and do two moves, so 50 basis points total [worth of cuts]. The market’s priced for something like 65 or 70 basis points,” Schumacher said. “So, in our view, at least at Wells Fargo, we think the Fed is, in some strange way, going to disappoint the market by not [cutting] as much as it already anticipates.” Read more @ https://www.cnbc.com/2019/07/12/the-fed-could-be-about-to-disappoint-the-market-well-fargo-securities.html?__twitter_impression=true&recirc=taboolainternal
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