Afternoon Note
By Charles Payne, CEO & Principal Analyst
10/30/2019 1:32 PM
Central banks around the world have been on a race to the bottom. While our own Federal Reserve got in the mix late, they are catching up. It’s a forgone conclusion that the Fed will cut rates today, but everyone is anxious over next steps.
Today, we got a better than expected GDP report, but one that also continues a declining trend. The consumer is strong, but things like subprime auto delinquencies have some waving yellow flags. There are members of the Fed that believe things are fine, and others that believe it would be a mistake not to be preemptive to fight drifting inflation and a couple of cracks in the consumer. Moreover, the lack of business investment has many worried.
While it’s true, rates are low enough and businesses are mostly on strike, the reversal in rates this year has sparked a revival in U.S. housing. Should the Fed preserve the move?
|
Name of interest rate |
country/region |
current rate |
direction |
previous rate |
change |
|
American interest rate FED |
United States |
2.000 % |
|
2.250 % |
09-18-2019 |
|
Australian interest rate RBA |
Australia |
0.750 % |
|
1.000 % |
10-01-2019 |
|
Banco Central interest rate |
Chile |
1.750 % |
|
2.000 % |
10-23-2019 |
|
Bank of Korea interest rate |
South Korea |
1.250 % |
|
1.500 % |
10-16-2019 |
|
Brazilian interest rate BACEN |
Brazil |
5.500 % |
|
6.000 % |
09-18-2019 |
|
British interest rate BoE |
Great Britain |
0.750 % |
|
0.500 % |
08-02-2018 |
|
Canadian interest rate BOC |
Canada |
1.750 % |
|
1.500 % |
10-24-2018 |
|
Chinese interest rate PBC |
China |
4.200 % |
|
4.250 % |
09-20-2019 |
|
Czech interest rate CNB |
Czech Republic |
2.000 % |
|
1.750 % |
05-02-2019 |
|
Danish interest rate |
Denmark |
0.050 % |
|
0.200 % |
01-19-2015 |
|
European interest rate ECB |
Europe |
0.000 % |
|
0.050 % |
03-10-2016 |
|
Hungarian interest rate |
Hungary |
0.900 % |
|
1.050 % |
05-24-2016 |
|
Indian interest rate RBI |
India |
5.150 % |
|
5.400 % |
10-04-2019 |
|
Indonesian interest rate BI |
Indonesia |
6.500 % |
|
6.750 % |
06-16-2016 |
|
Israeli interest rate BOI |
Israel |
0.250 % |
|
0.100 % |
11-26-2018 |
|
Japanese interest rate |
Japan |
-0.100 % |
|
0.000 % |
02-01-2016 |
|
Mexican interest rate |
Mexico |
7.750 % |
|
8.000 % |
09-26-2019 |
|
New Zealand interest rate |
New Zealand |
1.000 % |
|
1.500 % |
08-07-2019 |
|
Norwegian interest rate |
Norway |
1.500 % |
|
1.250 % |
09-19-2019 |
|
Polish interest rate |
Poland |
1.500 % |
|
2.000 % |
03-04-2015 |
|
Russian interest rate CBR |
Russia |
6.500 % |
|
7.000 % |
10-25-2019 |
|
Saudi Arabian interest rate |
Saudi Arabia |
2.750 % |
|
3.000 % |
07-31-2019 |
|
South African interest rate SARB |
South Africa |
6.500 % |
|
6.750 % |
07-18-2019 |
|
Swedish interest rate |
Sweden |
-0.250 % |
|
-0.500 % |
12-20-2018 |
|
Swiss interest rate SNB |
Switzerland |
-0.750 % |
|
-0.500 % |
01-15-2015 |
|
Turkish interest rate CBRT |
Turkey |
14.000 % |
|
16.500 % |
10-24-2019 |
Key Earnings Reports
In addition to the Fed, investors are looking ahead to big earnings releases after the close:
Apple (AAPL)
Apple usually beats consensus, but the reaction has been harder to pin down since that 4Q 2018 report where management announced it would stop breaking out key iPhone metrics while it lowered guidance.
Talk about anxiety, Apple shares are up 54% this year but unchanged over the past five sessions.
Facebook (FB)
FB has missed consensus by miles the last two times the company released its financials, which sent the shares down five percent in the following week last time.
The stock is up 43% for the year, and +0.60% in the past five days.
| Comments |
| When in the course of human events.. does anyone listen, or even do anything? Gerald Poe on 10/30/2019 2:01:21 PM |
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