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FICC Focus
Market Outlook Post December FOMC With Ben Emons: Macro Matters
Dec 19, 2024
Ben Emons, founder of Fed Watch Advisors and expert on central banks, joins Bloomberg Intelligence's Ira Jersey and Will Hoffman to discuss market implications following the recent FOMC meeting. They delve into how potential Trump policies may lead to heightened volatility in 2025. The conversation also covers the intricacies of interest rates and their effects on Treasuries, alongside currency hedging strategies amid liquidity concerns. Insights into the Fed's adjustments and the ripple effects on global markets offer a comprehensive financial outlook.
25:37
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Quick takeaways
- The Federal Reserve's shift towards a neutral stance suggests a stabilization around 4% for the 10-year Treasury yield, impacting investment strategies.
- Emerging markets, especially currencies in Mexico and Brazil, are facing increased volatility due to recent U.S. tariff policy changes and global financial dynamics.
Deep dives
Federal Reserve's Recent Meeting Insights
The recent Federal Reserve meeting marked a significant moment, shifting expectations regarding interest rates and market reactions. The Fed indicated a move towards a more neutral stance, suggesting a potential floor around 4% for the 10-year Treasury yield. This adjustment is crucial as it implies a slow-down in aggressive rate cuts, affecting both equity and bond markets, which experienced notable volatility following the meeting. As market participants digest these signals, the implication is a need for reassessment of investment strategies given the potential stabilization in rates and changing economic projections.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode