It is the 24th of July 2019

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The Precog Fed: Vice Chair Clarida Says Fed Shouldn't Wait For Economy To Turn Down To Cut Rates

There was something bizarre in yesterday's latest Beige Book: it painted an unexpectedly strong picture of the economy. Here, again, are the key points we pulled from the summary of various regional Feds' takes on the current state of the US economy:

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Fed Hints At Rapid Return To ZIRP, Sends Everything Soaring As Dollar Plunges

NYFed Williams basically implied ZIRP is coming back and soon and that sent the market's expectations for July rate cuts soaring (50bps now at 65%!)...

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"Please Don't Call At This Time": Bond Investors Stunned After First Trade War Casualty Plunges 66% In Days

Over a year in, the trade war between the US and China has claimed its first corporate casualty: a large Indonesian textile maker which missed a dollar loan payment last week is putting a fresh spotlight on how the stress from the geopolitical conflict is roiling global credit markets.

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