Fed's Cook Says Expectations Of Near-Term Policy Rates Do Not Appear To Be Driving Rise In Long-Term Rates; Residential And Commercial Property Prices Remain Above Levels 'Historically Associated With Fundamentals'
Portfolio Pulse from Benzinga Newsdesk
Fed's Cook stated that the expectations of near-term policy rates are not driving the rise in long-term rates. He also mentioned that residential and commercial property prices remain above levels historically associated with fundamentals.
November 06, 2023 | 4:03 pm
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NEUTRAL IMPACT
The statement by Fed's Cook may not have a direct impact on SPY as it does not indicate any immediate changes in monetary policy. However, the observation about overvalued property prices could indirectly affect real estate related stocks within the SPY ETF.
The statement by Fed's Cook does not indicate any immediate changes in monetary policy, which would directly impact the broader market and thus SPY. However, his observation about overvalued property prices could indicate potential risks in the real estate sector, which could indirectly affect real estate related stocks within the SPY ETF.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50