Fed Chair Janet Yellen sang from the same script as her FOMC colleagues before her on Friday and confirmed that ‘fairly soon’ really does means March. Fed Vice-Chair Stanley Fischer later chimed in with “If there has been a conscious effort” to boost expectations of a rate rise, “I’m about to join it”. Given the residual risk of a disastrous Payrolls Report yet derailing a March hike, market pricing moved up only slightly (to about 80%), while Treasury yields were marginally lower where changed and the US Dollar fell. In the words of Alison Moyet (et al) markets look to be ‘All Cried Out’ in fretting about a quarter point Fed rate rise next week. At the same time, I would note that Ms Yellen failed to suggest any need to upgrade the inflation view this month compared to last December, or to suggest upside risk around the December FOMC median ‘dot points’ currently indicating three rate rises this year. She did acknowledge rates will likely move up faster this year than prior years, but with only one each in 2015 and 2016, this is hardly a big call.

To mark my 1275th issue of Tradernoble I am offering a special 2 year rate of Euro 2750 for my Platinum Service which includes 1/4 updated emails throughout the trading day. This offer is open to both new and existing members and if anyone is interested can you please contact me on bryan@tradernoble.com for details.

For anyone following my Platinum Service it made 31 points on Friday and is now down just 5 points for March, having made 1481 points in February, 1734 in January, 1351 in December, 1971 in November and 1582 in October. The previous four months saw gains of 1142, 1782, 1682 and 2550 points respectively. Since I started this Platinum Service in June 2015 it has averaged a monthly gain of over 1800 points.

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