The Daily Shot Brief – December 17th, 2020



United States: The Fed provided guidance for its asset purchases on Wednesday, with language suggesting that QE could continue for some time.

FOMC: … the Federal Reserve will continue to increase its holdings of Treasury securities by at least $80 billion per month and of agency mortgage-backed securities by at least $40 billion per month until substantial further progress has been made toward the Committee’s maximum employment and price stability goals.

The market was a bit disappointed, with some expecting the central bank to boost the average maturity of bonds purchased. The yield curve steepened slightly in response.

Source: Daily Shot


According to the FOMC’s dot plot, the fed funds rate will remain near zero through the end of 2023.

Source: @TheTerminal, Bloomberg Finance L.P.


United Kingdom: The CPI surprised to the downside.

Source: Reuters Read full article


Savings declined the most among self-employed workers.

Source: BOE Read full article


Commodities: Will gold come under pressure if real rates climb next year?

Source: @AndreasSteno


Equities: Fund managers are all-in, with cash levels at multi-year lows (2 charts).

Source: @LizAnnSonders, @BankofAmerica


Global Developments: The tech sector has slowed its ascent in the US but has continued to climb in Australia. Here is a breakdown by select regions.

Source: S&P Global Market Intelligence


Food For Thought: Apartment rents in select cities:

Source: Wells Fargo Securities

Edited by Devon Lall

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