Feb 9, 2018

Government shutdowns don't usually move markets

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Powell and the risk-off bull market

Jerome Powell. Photo: Alex Wong/Getty Images

The Fed’s 180-degree turn was the story of 2019, asset managers and market analysts say.

What happened: Chairman Jerome Powell and the U.S. central bank went from raising interest rates for a fourth time at the close of 2018 and giving market watchers the explicit expectation this would continue in 2019, to doing the opposite. The Fed cut rates thrice and even began re-padding its balance sheet in the last quarter of the year, bringing it back above $4 trillion.

Go deeperArrowJan 2, 2020

Senate passes $1.37 trillion spending deal

Photo: Mandel Ngan/AFP/ Getty Images

The Senate on Thursday voted 81-11 to approve a $1.37 trillion spending measure to avoid a government shutdown when federal funding runs out at midnight on Friday, NPR reports.

What they're saying: Kellyanne Conway told reporters President Trump is “very happy” about the legislation and signaled that he plans to sign the two bills to avoid a shutdown, according to CNBC.

Go deeperArrowUpdated Dec 19, 2019

How stocks shake off geopolitical tensions

Reproduced from LPL Research; Note: The average reflects figures from the original list. Not all market shock events were included in this reproduction; Table: Axios Visuals

U.S. stocks have already recovered their losses from tensions in the Middle East that flared when a U.S. airstrike killed Iranian Gen. Qasem Soleimani last week. The same is largely true for crude oil, which has erased all of its gains since the incident, and a number of other risk assets.

What's happening: "Welcome to the brave new world where it appears that little short of full-fledged world war between nuclear-armed powers would be required to have a durable impact on financial markets. And even then, some begin to wonder," Reuters' Sujata Rao and Dhara Ranasinghe write.