Weekly Market Snapshot – September 30, 2019
Created by: Sam Tenney
- China and US trade talks are back on the table, and set to resume October 10th.¹
- Going forward, the Federal Reserve Open Committee (FOMC) is divided on further rate cuts for the year. Five members believe rates should go higher, five believe it should stay the same, and seven think it should be lowered again. This could signal further volatility as the FOMC is divided on the market’s direction.²
- The size of the Federal Reserve overnight repo operations has been raised from $75 billion to $100 billion. This shows that banks have a larger appetite for day to day liquidity then the Fed initially thought they would need.³
- A Duetsche Bank analysis noted that worldwide we currently have the highest debt to Gross Domestic Product (GDP) ratios ever in a peace-time scenario, with global debt to GDP sitting at around 70% led largely by Japan, Greece, and Venezuela. The only other time this ratio has been higher was during World War II, with a 112% Debt to GDP ratio.⁴
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