The DC Today - Monday, October 23, 2023

Episode 726: The DC Today - Monday, October 23, 2023

The FOMC meeting for next week basically has a 100% chance of no rate hike reflected in futures market activity.

Show notes

Today's Post -

So the market came into today just 300 points above its intra-day low of Friday the 6th at the beginning of this month, having rallied about a thousand points off of that in the six days that followed, but then selling off three days in a row to end last week. Bill Ackman announced this morning that he had covered his short on U.S. Treasuries (another way of saying this is that he ended his bet on rates going higher). Bonds also rallied on the news as the 10-year yield dropped 17 basis points (from +8 to -9).

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David Bahnsen

David Bahnsen

David is the Founder, Managing Partner, and the Chief Investment Officer of The Bahnsen Group.

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