Markets.......
Here we go...
FOMC: "...decided, for the time being, to wait for further evidence of continued progress toward its objections."
FOMC downgrades outlook for 2016 real GDP to 1.8% from June's 2%. Core PCE inflation outlook remains at 1.7% this year.
FOMC econ projections also look for slightly higher unemployment rate this year at 4.8%, up 0.1% from June.
Federal funds rate median forecast put at 0.6% for 2016, DN from 0.9% in June. 2017 put at 1.1%, DN from 1.6% in June. 2019 put at 2.6%.
Stocks Explode Higher After Fed Cuts US Growth Potential To Lowest On Record http://www.zerohedge.com/news/2016-09-21/stocks-explode-higher-after-fed-cuts-us-growth-potential-lowest-record …
Is Yellen Worried That She Is Causing Asset Bubbles? Here Is What She Said http://www.zerohedge.com/news/2016-09-21/yellen-worried-she-causing-asset-bubbles-here-what-she-said …
Fed does as expected..
Yellen opening statement: Most measures of labor market slack have showed little change
December 2014 vs Sept 2016 dots
Center stage for FOMC..
Over nite in Asia , morning items for Europe and Wall Street preview..
"Yield Curve Control ".... sounds like a Prince song , let's see how it pans out as a policy...
This chart explains BoJ decision: In steepening the yield curve, Kuroda wants to prop up banks as banks strongly correlated w/ yield curve.
At least January's move by the BoJ to take rates negative lasted three days... this morning the move lasted 3-hrs! #disappointing
*BOJ ADOPTS INFLATION-OVERSHOOTING COMMITMENT
*BOJ ETF BUYS TO REMAIN AT 5.7T YEN
*BOJ TO START FIXED-RATE PURCHASE OPERATIONS
*BANK OF JAPAN TAKES ADDITIONAL ACTION, INTRODUCE QQE WITH YIELD CURVE CONTROL
*BOJ TO BUY JGBS SO 10YR YIELDS REMAIN AROUND CURRENT LEVEL
Around The Horn - Europe.....
Any downward pressure on #Italy’s rating would come from fewer reforms or higher prospect for debt, Moody's Carlson says. (BBG)
Flat #Eurozone yield curve key reason for persistent decline in bank earnings. Since 2014 Stoxx Banks have been downgraded by 46%. (via CBK)
Good morning from Berlin on a key CenBank decision day. Asia mkts rise after BoJ maintains policy rate at -0.1% but introduces other actions
Sputnik @SputnikInt
#UK foreign secretary: No plans to visit #Russia until #Moscow stops #Assad support http://sptnkne.ws/cnz8 @BorisJohnson
Thursday's Guardian: UK economy defies gloom after EU shock #tomorrowspaperstoday #bbcpapers
UK’s private banks shrug off Brexit fears
The Brexit bounce continues - ten forecasters up their predictions for 2016 growth. http://blogs.spectator.co.uk/2016/09/brexit-bounce-continues/ …
Amygdaleza annex to host departing migrants http://dlvr.it/MJhC7j
Parl't approves Elliniko but vote shows gov't opposition to project http://dlvr.it/MJhC1c
Notable drop in spending by foreign tourists http://dlvr.it/MJgFGp
Report says public hospitals lack staff, medical equipment http://dlvr.it/MJgDwC
Greece finds shelter for Lesvos migrants after fire http://dlvr.it/MJbdK1
Greece rejects asylum requests by three Turkish soldiers http://dlvr.it/MJZz7m
Greece rejects asylum requests by three Turkish soldiers http://dlvr.it/MJZz7m
White House supports ongoing Greek reforms, debt relief discussions, Cyprus solution in 2016 http://www.ekathimerini.com/212205 #greece
EU scraps limit on free mobile roaming plan, says commissioner http://www.ekathimerini.com/212206 #greece
Multi bill with prior actions may be tabled in Parliament on Thu, 1-2, acc to #Greece MoF source (via @euro2day_gr) #economy
Ten Turkish citizens seek asylum on Rhodes http://dlvr.it/MJZMWT
Ten Turkish citizens seek asylum on Rhodes http://dlvr.it/MJZMWT
Ferries to strike Thursday, Friday http://dlvr.it/MJVlRB
#Greece VAT revenues beat target by 9.9% in Aug and by 3% in 8-month, acc to MoF souces cited by local media. #economy
EU Commissioner Avramopoulos on Migration: A European Issue Becomes a Global Issue [video] http://dlvr.it/MJXFWV #Greece
Vessel to Arrive on Lesvos to Accommodate Migrants Following Blaze at Moria Camp http://dlvr.it/MJWjHp #Greece
US VP Biden Meets with Greek PM Tsipras - Full HD: http://youtu.be/KFCxgLF3p2Q?a via @YouTube
#Greece budget primary surplus of 3.8 bln to Aug beats target by wide margin https://shar.es/1xqSCf #economy
State Land Usurped: 8 in 10 Public Properties in Attica Claimed by Citizens http://dlvr.it/MJJB5H #Greece
Odds & Ends......
There's a storm coming in......
News 3 mins ago 4:16 a.m. State of emergency in Charlotte amid 2nd night of violent protests http://www.wtsp.com/news/state-of-emergency-in-charlotte-amid-2nd-night-of-violent-protests/323756913 … #EMM
We are officially evacuating all of our FOX crews from uptown Charlotte. National Guard en route, SWAT sent out, protests escalating.
People in the crowd moved to shield a man on the ground in Charlotte after he was shot during protests http://nyti.ms/2dbiQQp
City of Charlotte issues correction, says civilian shot during protests not deceased http://cbsn.ws/2d2V0Yw
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