Submitted by Mike Shedlock via MishTalk.com,
The always entertaining Nigel Farage was on fire again today in European Parliament. Farage correctly warned EP members about their desire for “more Europe” when citizens of nearly every country are fed up with the policy.
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March rate-hike expectations have risen to their historical highs... (around 36%)
Longer-term Treasury yields took another leg higher as Yellen talked about the Fed's balance sheet.
Bank stocks are leading post-Yellen with bonds and bullion lower... The broad stock indices are unchanged...
Utes, Tech, and Energy are weighing on indices, only banks are higher...
"There is quite significant uncertainty about what's actually going to happen, I don't think anyone quite knows," Fed Vice Chair Stanley Fischer said on Saturday, but with Chair Yellen set to testify today before the Senate Banking Committee, Bloomberg's Richard Breslow is amazed how a debate can continue to rage about how hawkish she may or may not be. That’s neither a testament to the effectiveness of the Fed’s communication strategy nor how effectively their messaging is being processed.
Fed chief Janet Yellen will testify before the U.S. Senate Banking Committee on Tuesday. She is likely to receive a frosty reception from the Republicans emboldened by President Trump’s stinging remarks about the Federal Reserve and its current chair. Take a look…
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“Janet Yellen is highly political”
November 3, 2015
Authored by Mark St.Cyr,
For those not familiar, the reference is attributed to a scene from the movie “Margin Call” where John Tuld (Jeremy Irons) makes the sanguinary argument for dumping its portfolio of toxic holdings immediately against contradictory arguments that it’ll be seen as panicking by others with the line, “It’s not panicking if you’re first.”