Category Archives: release the Dudley
For the 3rd time this week Bill Dudley’s comments are spiking markets: USD/JPY, USTnote/Tbond yields, and risk asset prices. Ah… free markets. A few minutes after Dudley’s comments hit the tape at 12:48pm we got this….
Yesterday saw the release of Fed minutes showing that expectations were for the Fed to begin reducing the size of its $4.5T balance sheet by the end of the year. Markets reacted immediately. So NY Fed Prez and short-killer extraordinaire Bill Dudley explained today that he saw no appreciable balance sheet reduction until mid 2018. This exercise reminds me of the Fed’s QE3 taper […] Read the rest of this entry