von GoldenSnuff » Mittwoch 21. September 2011, 19:03
Bezgl. Fed:
Chief Economist and StrategistDavid Rosenberg of Gluskin Sheff speculates that Bernanke may domore than just ‘Operation Twist’ and listed ten reasons hedgefunds don’t want to be short ahead of today’s FOMC meeting in anearly note to clients today.
* On Aug. 9th Bernanke went much further than anyone thought with his pledge to keep the funds rate at the floor at least to mid-2013.
* Bernanke has shown repeatedly that he is willing to take risks and be very aggressive
* The Dow gained 430 points after the Aug. 9 session, after Bernanke unveiled QE1 it gained 360 points, and last Nov. after the Washington Post op-ed piece when Bernanke made it clear how key it was to ignite the stock market, the DJIA gained 220.
* At the Aug. meeting additional rounds of uncoventionaleasing were discussed, and Bernanke made it very clear at Jackson Hole they would be on the table again
* The Fed would like to be out the picture during the electioncampaign
* The Fed cut its GDP forcasts at each of the past threemeetings
* The market is little changed from the last meeting andjudging from his Washington Post op-ed it is equityvaluation Bernanke wants to see rally
* There is no fiscal stimulus to bolster the economy, with theodds that the Obama jobs plan will be dead-on-arrival
* Financial conditions have tightened nearly 100 bps since thespring and deserve a policy response
* Bernanke announced at Jackson Hole this meeting would be atwo day affair. The last time he did that was back in Dec. 2008 and that was when he invoked QE1