Risk of recession isn’t high as long as Fed gets policy right, Clarida says
Weak economic data over the past few days has raised investor expectations that the Fed would cut rates again when it meets at the end of the month. Investors now see a 90% chance of a quarter-point cut later this month. That’s up from a 40% likelihood last week. FED IS CAUGHT – DEBT IS HIGHER THEN INCOME?
KEY POINTS TODAY
- The PSEi should take a rebound today as bargain buyers rushes to the market
- Take note is not a reversal is just a pullback
- Wait and be cautious still
- FED remains cautious after “RECESSION & WEAK DATA” alarms rings
- Yesterday PSEi came down as expected by us.
- Look at above chart which is today and you can compare the technical behaviours
OTHER NEWS – RE-STRUCTURING AND JOB CUTS HAVE STARTED AS THE BUBBLE STARTS
U.S. personal computer maker HP Inc said on Thursday it will cut up to 16% of its workforce as part of a restructuring plan aimed at cutting costs. The company will cut about 7,000 to 9,000 jobs through a combination of employee exits and voluntary early retirement, it said in a statement. HP estimates the plan will result in annual gross run rate savings of about $1 billion by the end of fiscal 2022, it added. READ MORE
The market today reminds me of 1929 the great american depression!! Stay safe in the market.
Article by: Ashok – Strategic Coach & Mentor – Philippine Stocks