As expected, the Federal Reserve left interest rates unchanged in today’s policy announcement. Despite widespread expectations of faster growth, the central bank reasoned (persuasively or not) that pandemic risk for the economy continues to lurk and so aggressive policy accommodation is still necessary.
Daily Archives: April 28, 2021
Junk Bonds Continue To Lead US Fixed Income Markets In 2021
Stay short and favor junk bonds. That, at least, is what’s worked rather well so far this year, based on set of ETFs representing the major slices of US fixed-income markets. But as reflation heats up, is the already stretched high-yield market headed for trouble?
Macro Briefing: 28 April 2021
* Biden today will outline $1.8 trillion proposal in new spending and tax credits
* India’s coronavirus crisis worsens as pandemic breaks health system
* Profits for Google and Microsoft surge as the firms thrive during the pandemic
* Fed expected to maintain aggressive monetary stimulus despite faster growth
* US Consumer Confidence Index rises to 14-month high in April
* Manufacturing growth in Richmond Fed district is steady in April vs. March
* US 1-year housing price increase continued to accelerate in February:
