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Looking for deeper insight on markets? In tonight’s Closer sent to Bespoke Institutional clients, as the Fed came out with an increasingly dovish tone today, cutting rate hike estimates to zero for the rest of 2019, lowering growth expectations, and announcing a stop to asset purchases within the year, we provide a summary to the market’s reaction. Next, we delve a bit deeper into the Fed’s summary of economic projections (SEP), which using the Taylor Rule, backs up their policy decisions to keep rates neutral. Then we cover weekly fund flows which continued to see equity outflows as there were massive inflows into bonds. We finish with an updated look at EIA’s big increase in petroleum inventories.
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