Saxo Market Call

FOMC flashes green light. US treasury yields flash red.

March 18, 2021

Today's slide deck:  https://bit.ly/2Nwjcs4   -

Today we round up yesterday's FOMC meeting and weigh the initial reaction after the Fed effectively flashed a very accommodative green light for risky asset and for USD bears, versus the follow-on nervousness due to the ongoing question of whether the Fed is making a "policy mistake" in seeing the rise in longer US yields as entirely benign. A look through the reaction in USD, US Treasuries, gold, credit, upcoming calendar events, Tesla versus the German automakers and more on the call. Today's episode with Peter Garnry on equities, Althea Spinozzi on fixed income, Ole Hansen on commodities, and John J. Hardy hosting and on FX.

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