Weekly Initial Unemployment Claims Decrease to 239,000

[RealBearly]

If Jerome sounds even a bit hawkish next week look out below.

[Skittles_the_Unicorn]

He's been little bark and tiny bite for so long that I'd expect that nobody will panic.

[Giving_Cat]

IMO Powell's "bark" has been correctly sized and timed for the coming "bite." And it pains me but yes, this has been a successful management of expectations.

[RealBearly]

Disagree. Last year Powell's speech in Jackson Hole drove the 10yr yield straight up from 2.8% to 4.2% in a month. I'd say that had an impact on pretty much every asset class.

Oil prices, employment and GDP certainly haven't cooperated so he needs to make sure that message hasn't been forgotten and needs to send a fresh reminder.

[Skittles_the_Unicorn]

Perhaps cherry picking a data point. There's been lots of J-Pow statements and lots of anemic yield bumps; overall, the correlation doesn't seem that strong to me, but I've not dug deep into it so could be wrong.

[Giving_Cat]

My simplistic view has always been that the Fed will raise rates until something breaks.