Weekly Market Update

Fed Delivers a Dovish Pause – References Tighter Financial Conditions As widely expected, the Fed kept the funds rate unchanged a 5.25% – 5.50%. Also, the statement was largely unchanged from September except for characterizing economic activity as “strong” vs. “solid”. The statement also added a mention to tightened financial conditions, recognizing the increase in…

Investors Await Expected Fed Pause Treasury prices are higher this morning as investors await the Fed’s rate decision and Powell press conference at 2pm ET. With a pause expected Treasury prices are also being aided by the Treasury’s auction size announcement this morning came in slightly less than anticipated (more on that below). Presently, the…