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VRA Letter: Fed Day! Two Charts That Matter; TLT & SMH. Central Banks Love Gold. Latest From Rich Ross.

VRA Letter: Fed Day! Two Charts That Matter; TLT & SMH. Central Banks Love Gold. Latest From Rich Ross.   November 01, 2023 Good Wednesday morning. All eyes are on the Fed today, as they deliver their latest interest rate dec ...

Posted On November 01, 20234 MIN Read
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VRA Letter: Fed Day! Two Charts That Matter; TLT & SMH. Central Banks Love Gold. Latest From Rich Ross.
 
November 01, 2023

Good Wednesday morning. All eyes are on the Fed today, as they deliver their latest interest rate decision (2PM EST for Fed Statement followed by Powell presser at 2:30). The Fed will leave the fed funds rate unchanged at 5.50% after its two-day meeting, according to the Fed Rate Monitor Tool.
Instead of a rate hike, markets will be paying close attention to the Fed's statement and Powell's post-meeting presser. Powell has recently referred to the “tightrope” that the Fed is walking in order to cool inflation without slamming the breaks on the economy. Our view remains that the Fed’s job has been done for some time and that rate cuts will take place in the first half of 2024 (the markets really like “pauses”)

VRA Market Update 

Two charts that really matter.

TLT (LT Bond ETF) flashed two important technical signals over the last week that ...

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