Barron’s (August 22)
“The stock market snatched victory from the jaws of defeat this past week, thanks to a surprisingly dovish Jerome Powell.” Last week, fear had taken over. “Artificial-intelligence fever had turned into AI flu, causing Nvidia stock to drop for three consecutive days and the rest of the Mag Seven to stumble. Then, Federal Reserve Chair Jerome Powell’s speech at Jackson Hole suggested he was leaning toward a September interest-rate cut, sending stocks roaring back.” A strong earnings report from Nvidia could provide the catalyst to fully bring “those sputtering animal spirits should roar back to life.”
Tags: AI flu, Defeat, Dovish, Earnings report, Fear, Fed, Interest-rate cut, Jackson Hole, Mag Seven, Nvidia, Powell, Stock market, Stumble, Victory
Bloomberg (September 26)
“Asian markets risk a reprise of crisis-level stress as two of the region’s most important currencies crumble under the onslaught of relentless dollar strength. The yuan and yen are both tumbling due to the growing disparity between an uber-hawkish Federal Reserve and dovish policy makers in China and Japan.”
Tags: Asia, China, Crisis, Crumble, Currencies, Disparity, Dollar, Dovish, Fed, Hawkish, Markets, Onslaught, Relentless, Risk, Stress, Tumbling, Yen, Yuan
Institutional Investor (November 12)
“So far all comments from ECB policymakers have raised dovish expectations for the December meeting, while in the U.S. the Federal Reserve is widely expected to begin tightening. As a result, many analysts now see the macro setup for the dollar versus the euro as a catalyst to retest levels reached in the spring.”
Tags: Analysts, Catalyst, Dollar, Dovish, ECB, euro, Expectations, Fed, Policymakers, Tightening, U.S.
Wall Street Journal (November 5)
“The drumming you hear in Washington, Frankfurt and Tokyo is the accompaniment to the Central Bank Limbo, as the world’s monetary maestros line up to see how low they can go. The Bank of England (BOE) joined the queue Thursday with its announcement that a rate increase will again be delayed.” BOE Governor Mark Carney warned a year and a half earlier “that a rate rise could come ‘sooner than markets currently expect.’” Nevertheless, “Britain’s monetary-policy committee reverted to dovishness at its meeting this week.”
Tags: BOE, Carney, Central bank, Dovish, Frankfurt, Limbo, Markets, MPC, Rate increase, Tokyo, Washington
Euromoney (November Issue)
“Janet Yellen is eminently well qualified to lead the Federal Reserve. But investors should not assume that continuation of policy as normal comes without risk. Her dovish stance on inflation is worth noting and hedging against.”
Tags: Dovish, Federal Reserve, Hedging, Inflation, Investors, Janet Yellen, Policy, Qualified, Risk
