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« The World Is Hurtling Toward A New Global Monetary System | Main | Deutsche Bank CEO Warns Of "Fatal Consequences" For Savers »

Janet Yellen Might Ruin Your Summer Vacation

As investors debate whether markets are complacent, the hope is Janet Yellen’s Jackson Hole speech provides more clarity than confusion


What a difference a year makes.

The summer doldrums have descended on Wall Street, with stocks and Treasurys barely budging in weeks and locked in historically narrow trading ranges. That is a stark contrast to this week last summer, when stocks fell sharply and the Dow Jones Industrial Average briefly plummeted by more than 1,000 points in a single day.

What has changed? Mainly, China isn’t causing global financial turmoil. What hasn’t changed is that markets are still watching for clues about when the Federal Reserve will raise rates.

In the interim, ultra-easy monetary policies around the globe have depressed volatility. The lack of clear signals from Fed officials has given investors the confidence to drive markets higher.

That is why there is so much attention on the Fed’s annual symposium in Jackson Hole, Wyo. Chairwoman Janet Yellen’s speech Friday morning is the main event. The topic of her speech is the “monetary policy tool kit.” While investors want further clarity on timing of the next rate increase, Ms. Yellen is likely to keep her options open.

read more.....

gold is marking time as we await the Janet yellen non-event.....

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