The Federal reserve has indicated that without a weakening in the employment picture, the risks are evenly balanced presently not offering an opportunity for them to cut rates, despite the calls for it from the White House. Hard to argue with the numbers.
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Although it was an exciting week in current event terms, New Pope, Sabre rattling between India and Pakistan, and Air traffic control scares at Newark International Airport, the market itself was rather uneventful with respect to performance
AI alone could drive electricity demand equivalent to adding another US economy in the next 5 years. If onshoring really picks up, the US could be headed for a similar surge in power demand.
With all this tariff talk there has started to be quite a focus on shipments to the US, or lack thereof. Hard not see a chart of container, truck, or port utilization of late.
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A shortened holiday week which fortunately felt a bit less volatile in the markets, but not on the news flow side. Many consequential data points, but tying a cohesive narrative through them might be a bit of a stretch.
Nonetheless, we are going to give it a shot!
Plenty to unpack this week. Let’s take a step back and look at some basic charts.
Where to start after a week like that?
When market volatility explodes there is no shortage of content floating around. We thought going back to some simple basic charts for perspective might be helpful.
The $ has now round tripped its election move.
Fed Meeting
The Federal Reserve convened their scheduled March meeting this week. There were no expectations for any action to be taken, so the focus was largely on the commentary post the conclusion. We prefer to focus on one of the main outcomes, the DOT plot.
