The pending home sales index climbed 6.1% m/m, crushing expectations and marking the biggest advance in the series since April 2010. The y/y component is still in negative territory, but this year is rapidly catching up with the very good results seen in 2013
dc CB 17:50 GMT
Today's RevRepo...Window Day
$339.481 BILLION
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The Fed has many tools in its arsenal and one of which are reverse repos which are confusing to most and even more difficult to explain to the public.
The Fed’s own description reads as follows: “When the Desk conducts an overnight RRP, it is selling an asset held in the System Open Market Account (SOMA) with an agreement to buy it back on the next business day. This leaves the SOMA portfolio the same size, but shifts a liability on the Federal Reserve’s balance sheet from “deposits” to a reverse repo while the trade is outstanding.” Got that?
Some are pointing out that RRPs have been affected quarter end equity prices, perhaps not so coincidentally, at the same time. The Fed has been doing these reverse repos since quarter end December 2013. The effects on markets are clear:
Oh come on. Reverse repos are nothing new. That is how the FED when it was not quite so transparent used to signal a tightening of some degree hence why in the good ole days we had FED watchers for they were meant to be the elite economists that could interpret into plain English what the FED was doing.
They just haven't used them for a while and all the new boys think they invented something
in simplistic plain language:
A repo is granting liquidity a reverse repo is withdrawing liquidity. Simple eh..
"American troops from the United States will be dispatched to Europe starting in October to help respond to Russian aggression in Ukraine"
Russian aggression? You mean the VOTE. A vote in Crimea is now classified as aggression. Oh right. This insanity continues.
This particular 'conflict' is likely to have a negative impact on European business though American business is reportedly not pleased. "The poor US economic outlook has brought America’s two largest business lobbies–the US Chamber of Commerce and the National Association of Manufacturers (or what is left of them) into conflict with the Obama regime’s threat of further sanctions against Russia.
According to Bloomberg News, beginning tomorrow (June 26), the business groups will run advertisements in the New York Times, Wall St Journal, and Washington Post opposing any further sanctions on Russia. The US business organizations say that the sanctions will harm their profits and result in layoffs of American workers."
Mon 27 May 2019 AAGB/US- Holiday Tue 28 May 2019 A 14:00 US- Consumer Confidence C 13:00 US- Case-Shiller Wed 29 May 2019 A 08:55 DE- Employment AA 18:00 US- BOC Decision A 18:30 US- EIA Crude Thu 30 Mar 2019 AAEZ/CH- Holiday A 12:30 US- Weekly Jobless Fri 31 Mar 2019 AA 10:00 EZ- Flash HICP A 12:30 US- Personal Income, Spending, Deflator AA 14:00 US- Final Univ of Michigan
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