The Bank of Japan is set to release its monetary policy statement sometime tonight. The Federal Open Market Committee’s decision to cut the range for the interbank overnight lending fee (fed funds rate) and the interest rate it pays on reserves left on deposit with the Fed by 25 basis points. The cut was expected … Continue reading The markets are waiting on Japan
The stats … 30-Day Federal Funds Futures and Options (ZQV3): 94.735 Effective Federal Funds Rate: 5.08% Discount Window Rate: 5.25% Interest on Reserve Balances: 5.15% 10-Year Treasury Note: 3.80% EUR/USD=1.0713 USD/JPY=140.5300 DXY=104.07 The takeaway … The dollar strengthens and I see less demand for the euro and the yen. According to data from the Federal … Continue reading Interbank Market News Scan: Is one and done is out of the window according to CME Fed Watch?
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