Daily Archives: Jun 18, 2021 at 06:47 pm EDT

Uncertainty In The Spotlight After Fed Meeting

Wednesday’s policy meeting was supposed to be a non-event. The Federal Reserve was widely expected to leave interest rates pinned near zero while the central bank reaffirmed that its view that the recent surge in inflation is temporary. Both forecasts proved to be correct, but the Fed hinted that it is considering raising rates sooner than expected. The news sent markets reeling and analysts reconsidering how vulnerable the economy is to tighter monetary policy.

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Macro Briefing: 18 June 2021

* Affordable Care Act, a.k.a. Obamacare, survives challenge in Supreme Court
* Reflation trades take a hit after Fed hints at hawkish policy shift
* US dollar on track for its best week since last September
* Commodities take a hit on China crackdown and stronger dollar
* US Leading Economic Index continued to increase in May
* Philly Fed Mfg Index continues to reflect solid expansion in June
* US jobless claims post unexpected gain, rising to highest level in a month
* 10yr-2yr Treasury yield curve slips to narrowest spread since early March: