még mindig aktuális téma lehet :)
még mindig aktuális téma lehet :)
hát sangi én ebben sem hiszek.
sztem a globi még nagyobb lesz és hatalmas óriási hiperszuper mamutvállalatok, dinoszauruszok fogják uralni ezt a világot az elkövetkező 60 évben.
élet és halál urai lesznek.
e világban.
függetlenedni tőlük csak egyféleképp lehet majd, de ebben a többség nem hisz :o) úgyhogy nem szerepem a prédikáció.
Nagy úr a hosszú "rabszolgaság".:) Idő kell, míg a felszabadított "rabszolga" újra önálló lesz, és élni tud a szabadságával.:)
De ez a globalizáció, amit próbálnak most kiszélesíteni, megerősíteni. Én remélem nem sikerül.
kivéve persze kínát :o)
de india mit csinál ? nekik is függetlenedni kéne.
picit nem értek egyet :o)
érdekes hogy tegnap olvastam pont hogy amerika elvesztette a világ irányításának szerepét, ugyanakkor azt látom, hogy a tőzsdék mindig amerikát majmolják le.
ha nem amerika mutatja az irányt, akkor függetlenül kellene mozogniuk, sztem.
és mégse az történik.
valami nem stimmel :o)
lehet hogy még mindig amerika vezet ? :o))) mindenben
Valójában a nesze semmi fogd meg jól.:) Maradt minden a régiben, a szöveg pedig: javuló gazdaság, fogyasztás, megtakarítás, recesszió veszély nem fenyeget.:) Szóval minden ami nem igaz.)
ez nagyon hosszú sangi !
ebből kifolyólag maradok továbbra is a long oldalon :o)
10,000-foot view
Today’s FOMC statement was even less changed than the market thought was likely going into the statement, but with the sharp moves in the USD weaker going into the announcement all day, one wonders whether the dovishnness is already priced in with EURUSD trading at 1.4900. The statement triggered pushed the Dec. 2010 EuroDollar as much as 7.5 points higher, but as of this writing, that rally had been approximately halved. All in all, the kneejerk reaction says that this statement gives the green light to the USD carry trade, with the only overhanging question of the degree to which the market has already priced in the development. Interest rate moves don’t suggest an overwhelmingly USD-bearish push as we are writing this – perhaps at least partially because short US rates can’t go much lower…..
FOMC statement changes
The FOMC statement was about as unchanged as it was possible for it to be, with the Fed only slightly upgrading its view on household spending (now describing it as “increased” rather than “stabilizing”) and keeping the phrase about maintaining “exceptionally low levels of the federal funds rate for an extended period” completely unchanged. The major difference in the bottom section of the statement included a laundry list of the variables that are”warranting” the Fed’s view: namely: “low rates of resource utilization, subdued inflation trends, and stable inflation expectations”. Previously, the statement only mentioned “economic conditions”. In any case, it is clear which economic data variables we need to focus on in coming months if we are to ever see the Fed moving its exit strategy into higher gear.
Besides this, there was a mention of specifically targeting the purchase of only $175 billion in mortgage backed securities rather than the previous “up to” $200 billion, but it was noted that this reduction had simply to do with the amount of securities available for purchase.
It is interesting to note that despite rates falling at the very front part of the curve, bonds are still weak. This impacts JPY crosses the most. Again, the statement gives the green light to the bubble mentality driven by the USD carry trade, and is USD bearish on the surface. The only thing that will put the USD back to the strong side is the bubble collapsing under its own weight.
Full Text of November 4 Fed Statement (from www.federalreserve.gov):
Information received since the Federal Open Market Committee met in September suggests that economic activity has continued to pick up. Conditions in financial markets were roughly unchanged, on balance, over the intermeeting period. Activity in the housing sector has increased over recent months. Household spending appears to be expanding but remains constrained by ongoing job losses, sluggish income growth, lower housing wealth, and tight credit. Businesses are still cutting back on fixed investment and staffing, though at a slower pace; they continue to make progress in bringing inventory stocks into better alignment with sales. Although economic activity is likely to remain weak for a time, the Committee anticipates that policy actions to stabilize financial markets and institutions, fiscal and monetary stimulus, and market forces will support a strengthening of economic growth and a gradual return to higher levels of resource utilization in a context of price stability.
With substantial resource slack likely to continue to dampen cost pressures and with longer-term inflation expectations stable, the Committee expects that inflation will remain subdued for some time.
In these circumstances, the Federal Reserve will continue to employ a wide range of tools to promote economic recovery and to preserve price stability. The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period. To provide support to mortgage lending and housing markets and to improve overall conditions in private credit markets, the Federal Reserve will purchase a total of $1.25 trillion of agency mortgage-backed securities and about $175 billion of agency debt. The amount of agency debt purchases, while somewhat less than the previously announced maximum of $200 billion, is consistent with the recent path of purchases and reflects the limited availability of agency debt. In order to promote a smooth transition in markets, the Committee will gradually slow the pace of its purchases of both agency debt and agency mortgage-backed securities and anticipates that these transactions will be executed by the end of the first quarter of 2010. The Committee will continue to evaluate the timing and overall amounts of its purchases of securities in light of the evolving economic outlook and conditions in financial markets. The Federal Reserve is monitoring the size and composition of its balance sheet and will make adjustments to its credit and liquidity programs as warranted.
Full text of previous FOMC Statement (September 23):
Information received since the Federal Open Market Committee met in August suggests that economic activity has picked up following its severe downturn. Conditions in financial markets have improved further, and activity in the housing sector has increased. Household spending seems to be stabilizing, but remains constrained by ongoing job losses, sluggish income growth, lower housing wealth, and tight credit. Businesses are still cutting back on fixed investment and staffing, though at a slower pace; they continue to make progress in bringing inventory stocks into better alignment with sales. Although economic activity is likely to remain weak for a time, the Committee anticipates that policy actions to stabilize financial markets and institutions, fiscal and monetary stimulus, and market forces will support a strengthening of economic growth and a gradual return to higher levels of resource utilization in a context of price stability.
With substantial resource slack likely to continue to dampen cost pressures and with longer-term inflation expectations stable, the Committee expects that inflation will remain subdued for some time.
In these circumstances, the Federal Reserve will continue to employ a wide range of tools to promote economic recovery and to preserve price stability. The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period. To provide support to mortgage lending and housing markets and to improve overall conditions in private credit markets, the Federal Reserve will purchase a total of $1.25 trillion of agency mortgage-backed securities and up to $200 billion of agency debt. The Committee will gradually slow the pace of these purchases in order to promote a smooth transition in markets and anticipates that they will be executed by the end of the first quarter of 2010. As previously announced, the Federal Reserve’s purchases of $300 billion of Treasury securities will be completed by the end of October 2009. The Committee will continue to evaluate the timing and overall amounts of its purchases of securities in light of the evolving economic outlook and conditions in financial markets. The Federal Reserve is monitoring the size and composition of its balance sheet and will make adjustments to its credit and liquidity programs as warranted.
volát az csináltak, szépet. irány most úgy tűnik le...
FOMC meeting: Rate unchanged at 0,25% as expected. FED retains its pledge to keep rates low for extended period.
