Has Powell caved already in 2019?


In an attempt to reverse the 20% decline between September and Christmas Eve last year, something’s stoking the fire under US equities this year.

Progress on reversing the US-Sino trade war plus the start of a possible cave-in by Fed Chair Jerome Powell on the balance sheet run-off are two good places to look.

How long this will last is anyone’s guess, but here’s a good article outlining the current state of play in relation to interest rates and the balance sheet run-off; and why Powell might have been forced to preen his dove feathers.

More on these key factors and the US Government shutdown over the next few weeks.

Mike Ganon.

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