March 4, 2021

Mar 4, 2021Trade Ideas

With a good deal of uncertainty in the market, let’s stay on the sidelines.

A good deal of the sell-off today was because of Fed Chairman Jerome Powell. In fact, following his comments on inflation, the 10-year yield jumped back above 1.5%. “We expect that as the economy reopens and hopefully picks up, we will see inflation move up through base effects,” Powell said, as quoted. By CNBC. “That could create some upward pressure on prices.”

At the same time, yields increased with investors disappointed Powell offer any reassurance.

“This was a minor negative as he failed to provide the type of reassuring comments investors were hoping for,” Adam Crisafulli, founder of Vital Knowledge said, as also quoted by CNBC. “He was vague about what actions specifically would be taken if the Fed felt yields were rising to excessive levels (he was given a few opportunities to endorse a change in QE duration but never did).”

Hopefully, markets will quickly price in negativity, though. At the moment, let’s wait to see what markets decide to do next instead of rushing into a trade.

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