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Clarksville, TN – Fed Chair Janet Yellen said she was “cautiously optimistic” in her speech on the economy and monetary policy. She expects that further gradual increases in the federal funds target rate will be warranted, but she also stressed a number of near-term uncertainties.
This week, the mid-month economic data releases will be important, especially Tuesday’s retail sales figures, but the focus will be on the Fed.The Federal Open Market Committee (FOMC) will release its policy statement at 2:00pm on Wednesday. No change in rates is expected, and the FOMC should be noncommittal about a possible move in July.
At the same time, the Fed will release the revised Summary of Economic Projections, which will include a new dot plot (the forecasts by each senior official of the federal funds target rate).
One half hour later, Yellen will conduct her post-meeting press conference.
Consumer Money Rates
Treasury Yield Curve – 06/10/2016
As of close of business 06/09/2016
US government bonds and treasury bills are guaranteed by the US government and, if held to maturity, offer a fixed rate of return and guaranteed principal value. US government bonds are issued and guaranteed as to the timely payment of principal and interest by the federal government. Treasury bills are certificates reflecting short-term (less than one year) obligations of the US government.
Commodities trading is generally considered speculative because of the significant potential for investment loss. Markets for commodities are likely to be volatile and there may be sharp price fluctuations even during periods when prices overall are rising. Specific sector investing can be subject to different and greater risks than more diversified investments.
Tax Equiv Muni yields (TEY) assume a 35% tax rate on triple-A rated, tax-exempt insured revenue bonds.
The information contained herein has been obtained from sources considered reliable, but we do not guarantee that the foregoing material is accurate or complete. Data source: Bloomberg, as of close of business June 9th, 2016.
Frazier Allen, WMS, CRPS, Financial Advisor with F&M Bank
Web Site: http://www.raymondjames.com/frazierallen
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