data at 10 AM. This will be followed by Jay Powell participating in a roundtable discussion with Philly Fed President Patrick Harker at 11 AM ET. The week concludes with the September
Thus, price stability and labor imbalances will likely remain the subjects. NY Fed President John William’s speech on Friday, September 29, indicated that the Fed is nearing its peak policy rate, emphasizing that the rates might remain restrictive for a significant period. Some attribute this statement to Friday’s market sell-off.The bond market continues to grapple with this message. The more I hear the Fed discussing completion, the more I observe nominal rates and real yields rising.
The most evident target for such a bounce would be around the 4,400 mark, aligning with the gap from September 20th and coinciding with a 61.8% retracement level of the decline that began around the time of the Fed meeting. However, should the index breach the recent lows of 4,240, the subsequent potential level could be around 4,195.We do not want to walk down the political aisle.
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