美联储会后也同时宣布，将在本月开始扩大资产负债表，购买400亿美元的短期国债，购买规模预计会 在几个月内保持高位，随后会显著缩减。 北京时间周四凌晨03:00，美联储联邦公开市场委员会(FOMC)发布了最新的利率决议，宣布降息25个基 点，将联邦基金利率目标区间降至3.50%-3.75%，符合市场预期。 自2022年至本月，美联储持续缩减持有的国债规模，目标是在不扰乱市场的前提下，将资产负债表降至 尽可能小的规模。 ...

Core Points - The Federal Reserve announced a 25 basis point rate cut, lowering the federal funds rate target range to 3.50%-3.75%, aligning with market expectations for a "hawkish cut" [1] - This marks the third consecutive rate cut by the Federal Reserve, totaling a cumulative reduction of 75 basis points for the year [2] - The decision was passed with a vote of 9 in favor and 3 against, indicating a split within the committee, with notable dissent from the Kansas City and Chicago Fed presidents [2][3] - The Fed's statement highlighted that further rate cuts would depend on evidence of deterioration in the labor market [4] - The threshold for future rate cuts has been raised, with the timing and magnitude of cuts now contingent on changes in economic outlook [5] - The "dot plot" indicates that the Fed expects only one more rate cut in 2026 and another in 2027, with rates projected to return to a long-term level of 3% [6] - The committee raised its GDP growth forecast for 2026 by 0.5 percentage points to 2.3%, while still anticipating inflation to remain above the 2% target until 2028 [8] - The Fed announced plans to resume purchasing U.S. Treasury securities, starting with $40 billion in short-term bonds, following concerns about pressures in the overnight funding market [8] - There are concerns regarding the independence of the Federal Reserve, as recent comments from the White House suggest dissatisfaction with the pace of rate cuts [8]

Core Insights - The US Federal Reserve has indicated a pause in interest rate cuts, with only one rate cut expected in 2026, amidst pressures from high inflation and a weak job market [1][3][6] - The Fed's key interest rate has been reduced to approximately 3.6%, a near three-year low, despite dissenting votes advocating for no changes [2][6] - Economic growth in the US is anticipated to improve, with a projected jobless rate decline and inflation expected to decrease to 2.4% by the end of next year [3][4] Federal Reserve's Position - The Fed is cautious about future rate cuts due to the potential impact of trade tariffs on inflation and the overall economy [4][6] - Fed Chair Jay Powell noted that the current policy rate is within a neutral range, allowing the Fed to monitor economic developments before making further changes [6][12] Political Influence and Market Reactions - There is concern regarding the potential political influence on the Fed, especially with President Trump's efforts to appoint supporters of rapid interest rate reductions [7][9] - The upcoming succession of Fed Chair Powell has led to market uncertainty, with fears that a new chair could undermine the Fed's current guidance [9][12] - Market reactions have shown little movement in the dollar and US bond yields following the Fed's decisions, indicating a cautious outlook among investors [10][13]

Core Viewpoint - The Federal Reserve plans to expand its balance sheet by purchasing short-term Treasury securities to alleviate pressure in overnight lending markets, which are essential for the overall financial system [1] Group 1 - The Federal Reserve is ready to buy short-term Treasury securities [1] - The aim of this action is to prevent pressure in overnight lending markets [1] - Overnight lending markets are critical to the broader financial system [1]

The Federal Reserve on Wednesday said that it would start buying short-dated government bonds to help manage market liquidity levels to ensure the central bank retains firm control over its interest rate target system. ...

Kevin Hassett is signaling he’s ready to shake up the Federal Reserve. In an interview with FOX Business’ Larry Kudlow on Tuesday, the National Economic Council director – and Fed chair frontrunner – openly hinted he would overhaul key parts of the Federal Reserve and scrutinize everything from the Fed’s research divisions to its regional presidents."The point is the Fed should be focused on monetary policy and to try to stay out of politics," Hassett said. "And think about how many times in the last couple ...

Traders work on the floor at the New York Stock Exchange in New York, Dec. 8, 2025.One basis point is equivalent to 0.01%, and yields and prices move in opposite directions.The benchmark 10-year Treasury yield rose more than 1 basis point to 4.204%. The 30-year Treasury yield was up 1 basis point at 4.819%, while the 2-year Treasury yield nudged higher by more than a basis point to 3.625%.U.S. Treasury yields moved higher on Wednesday as investors keenly anticipated the Federal Reserve's interest rate decis ...

Group 1: ECB Economic Outlook - ECB President Christine Lagarde provided an optimistic assessment of the Eurozone economy, indicating that growth projections may be revised higher in December and that the economy is "quite close to potential" [2][9] - Lagarde emphasized the ECB's commitment to focusing on inflation while considering the broader economic context, with underlying inflation indicators aligning with the ECB's 2% medium-term target [3][9] Group 2: Support for Ukraine - Lagarde highlighted the geopolitical necessity of supporting Ukraine, stating it is the ECB's "duty to support Ukraine" and advocating for joint EU financing for defense, which she described as a "perfect case" for cooperation [4][9] Group 3: Deere & Company - Deere & Company is reportedly planning additional job cuts in 2026 due to intensified strain on US farmers caused by Donald Trump's tariffs, following thousands of layoffs in recent years [5][6][9] - The company is also shifting some production to Mexico as part of its response to the challenging environment in the agricultural sector [6][9] Group 4: CATL Bond Issuance - Chinese battery manufacturing giant CATL is planning to issue bonds worth up to CNY10 billion, which could provide significant capital for the company in the global electric vehicle battery market [7][9]

Core Insights - Hedge ratios are currently low, which indicates that investors are exposed to potential declines in the dollar [1] Group 1 - The financial institution, which is owned by 63 central banks, highlights the vulnerability of investors due to low hedge ratios [1]

Core Insights - The Federal Reserve is facing a challenging environment characterized by a weakening labor market and rising prices, necessitating careful risk management in its upcoming meetings [3][4][6] - The Fed's decision-making process has become more democratic over time, with a notable shift in dynamics since the Greenspan era, allowing for more open discussions among committee members [7] Group 1: Current Economic Context - The upcoming Federal Reserve meeting on December 9 and 10 is expected to address the conflicting risks of labor market weakness and inflation, with policymakers relying on outdated government data due to recent cancellations of employment and inflation reports [3][5] - David Wilcox describes the current economic situation as unprecedented, likening it to driving with a foggy windshield, indicating the complexity and uncertainty faced by the Fed [4] Group 2: Federal Reserve's Internal Dynamics - The Federal Open Market Committee is currently divided, with some members advocating for interest rate cuts to support the labor market, while others prefer to maintain rates to prevent further inflation [6] - Investors and analysts anticipate a potential quarter-point interest rate cut, marking the third reduction this year, although the Fed chair has indicated that this outcome is not guaranteed [7]