The KUIK Closing Market Report for Tuesday, May 23:
Markets were up.
Index
Direction
Change
Units
Index
Time
Change
Dow
Up
43
points
20,938
2:31 PM
S&P500
Up
0.2%
percent
2,398
4.40
Nasdaq Composite
Up
0.1%
percent
6,139
5.09
30 Year Treasury
Up
4
basis points
2.95
Annual Yield
In a speech in New York, Philadelphia Federal Reserve President Patrick Harker says he longs for the day when people at dinner parties avoided getting stuck next to him and that the Fed intends to make shrinking its balance sheet about as boring as “watching paint dry.” The Fed’s balance sheet as grown to $4.5 trillion since the financial crisis, holding Treasurys and mortgage assets that created a loose monetary policy. Shedding the assets will create tighter policy, as the plans are watched closely by Wall Street.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
