Fed's Waller Says Long Term Rates Are Market Determined; When The Deficit Is 6% With Low Unemployment Hard To See That As Sustainable; Clearly Issuance Has To Have An Impact On Yields; "Astounding" How Resilient Job Market Has Been Given Tight Fed Policy
Portfolio Pulse from Benzinga Newsdesk
Federal Reserve's Waller stated that long-term rates are determined by the market. He expressed concerns about the sustainability of a 6% deficit with low unemployment. He also noted the impact of issuance on yields and praised the resilience of the job market despite tight Fed policy.
October 11, 2023 | 2:40 pm
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NEUTRAL IMPACT
Federal Reserve's Waller's comments on long-term rates, deficit, and job market resilience could impact the broader market, represented by SPY.
Waller's comments indicate a cautious stance on the economy, which could lead to uncertainty in the market. However, his praise for the job market's resilience could also be seen as a positive sign. These mixed signals make it difficult to predict the exact impact on SPY.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50