AMERICAS OIL: WEST CANADA TRACKER: Oil Exports Fall to Lowest Since December
Feb-28 20:24
WEST CANADA TRACKER: Oil Exports Fall to Lowest Since December: Bloomberg * Oil exports by tanker f...
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FED: Fed on Framework Review and Inflation Target
Jan-29 20:20
- Powell on the 2% inflation target in the Framework Review: "We said, at times when inflation persistently undershot 2%, we would likely allow inflation to run moderately above 2% for some time. That is what we said. That turned out not to be relevant to what actually happened... in late 2021, we changed our view and raised rates a lot, and here we are at 4.1% unemployment and inflation way down."
- Final Q of the press conference Is on risks from Cryptocurrencies: We think banks are perfectly able to serve crypto customers as long as they can understand and manage the risks - a number of our banks we regulate and supervise do that. We certainly don't want to take actions that would cause banks to terminate customers that are perfectly legal, just because of excess risk aversion.
US TSY FUTURES: BLOCK: March'25 5Y Buy
Jan-29 20:18
- +6,000 FVH5 106-15, post time offer at 1511:35ET, DV01 $250,000. THe 5Y contract has since dipped to 106-14 compared to post FOMC low of 106-08.5
FED: Question from MNI's Evan Ryser on a Potential March Cut
Jan-29 20:15
- MNI's Evan Ryser asks whether a March cut is still on the table: Powell says "the broad sense is that we don't need to be in a hurry to adjust our policy stance"
- Powell on the inflation bar to cut in March (Whether or not you need to see better than expected inflation data, or just inflation data that roughly aligns with your current forecasts?) "We'll know it when we see it...has to be something that isn't just idiosyncratic... You are going to want to see inflation behaving in a way that builds confidence that we are really making progress. That is what it is going to be. I mean, is that better than our expectations? We expect to see that, but it is just a question of when."
