Dow futures are up about 50 points in pre-opening trading after Wednesday’s modest sell-off. Stocks cannot sustain momentum in either direction and probably won’t be able to until we start seeing what Congress can or cannot get done in the toxic D.C. atmosphere.
Bond prices are lower after bonds rallied for no real reason Wednesday. Bullish bond traders are poised to move yields down a level and remain convinced that is the direction for yields they just need a trigger to give them a push. Sometraders are hoping that trigger will come tomorrow from either Fed chair Janet Yellen or Eurpoean Central bank president Mario Draghi in their speeches during the annual Jackson Hole symposium.
Make Dwight A TRUSTED Part Of Your Day
Read more insights from Dwight Johnston on TrustCU.com or register for his Daily Dose e-newsletter to receive his blogs straight to your inbox.
Paul Ryan and others say the debt ceiling bill will pass, despite Trump’s threats, and the government will not shut down. It’s hard to believe Trump would shut down the U.S. government over funding of a wall that Mexico was supposed to payfor in the first place, but Trump is so unpredictable, it’s not unthinkable. This threat might come back to haunt the markets closer to crunch time.
Dwight Johnston is the chief economist of the California and Nevada Credit Union Leagues and president of Dwight Johnston Economics. He is the author of a popular commentary site and is a frequent speaker at credit union board planning sessions and industry conferences.
August 24, 2017
Daily Dose Of Industry Insights
Stay informed, inspired, and connected with the latest trends and best practices in the credit union industry by subscribing to the free CreditUnions.com newsletter.
3 Areas Of Unpredictability
Dow futures are up about 50 points in pre-opening trading after Wednesday’s modest sell-off. Stocks cannot sustain momentum in either direction and probably won’t be able to until we start seeing what Congress can or cannot get done in the toxic D.C. atmosphere.
Bond prices are lower after bonds rallied for no real reason Wednesday. Bullish bond traders are poised to move yields down a level and remain convinced that is the direction for yields they just need a trigger to give them a push. Sometraders are hoping that trigger will come tomorrow from either Fed chair Janet Yellen or Eurpoean Central bank president Mario Draghi in their speeches during the annual Jackson Hole symposium.
Make Dwight A TRUSTED Part Of Your Day
Read more insights from Dwight Johnston on TrustCU.com or register for his Daily Dose e-newsletter to receive his blogs straight to your inbox.
Read More Register Now
Paul Ryan and others say the debt ceiling bill will pass, despite Trump’s threats, and the government will not shut down. It’s hard to believe Trump would shut down the U.S. government over funding of a wall that Mexico was supposed to payfor in the first place, but Trump is so unpredictable, it’s not unthinkable. This threat might come back to haunt the markets closer to crunch time.
Dwight Johnston is the chief economist of the California and Nevada Credit Union Leagues and president of Dwight Johnston Economics. He is the author of a popular commentary site and is a frequent speaker at credit union board planning sessions and industry conferences.
Daily Dose Of Industry Insights
Stay informed, inspired, and connected with the latest trends and best practices in the credit union industry by subscribing to the free CreditUnions.com newsletter.
Share this Post
Latest Articles
Tech-Grown CEOs Share Fintech Partnership Strategies (Part Two)
Tech-Grown CEOs Share Fintech Partnership Strategies (Part One)
Virtual Cards: More Than Just A Trend
Keep Reading
Related Posts
Markets Responded Well To Reduced Trade Fears In May
What Can Credit Unions Learn From Rocket Mortgage?
Sweeping Tariffs Leave The Fed In An Unenviable Position
Service Credit Union Launches CUSO For Fintech Investments
Savana MorieBest Of 2025 (So Far): Supporting Member Financial Wellbeing
Aaron Passman3 Ways The Balance Sheet Is Adjusting To New Borrowing Habits
Roman OjalaView all posts in:
More on: