- “Nearly all FOMC participants expect that it will be appropriate to raise interest rates somewhat further by the end of the year,” said Powell in remarks at a House Financial Services Committee hearing Wednesday.
- Powell said last week that now that the Fed is closer to the peak rate the central bank doesn’t have to move as quickly as it did over the last year.
- The markets are currently pricing in a nearly 80% chance of a rate hike in July.
Advanced economies like the US have had a head start on developing advanced industries, making it difficult for others to catch up. Europe, despite being primarily comprised of already advanced economies, lacks the innovative global companies compared to the US and even the new players coming from Asia, with exceptions like Germany and France, leading to being underrepresented in global corporations and correlating with GDP per capita.
What sets the US apart is its better capital, which enables businesses to invest more in their workers, thanks to the USA being an attractive destination for investors due to its strong legal system, culture of innovation, and position as the world’s Reserve currency.
Commodities:
Soybean Oil Share is having the worst single day I have ever seen. Since both soybean oil and soybean meal are outputs from the soybean crush process, many market participants evaluate soybean oil prices relative to soybean meal prices. Currently soybean oil is limit down and soybean meal is close to limit up!
If you are close to the right ratio you could have made (or lost!) appx $16,800 in soyoil futures and $12,500 in soymeal futures
