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The website you are accessing is created and maintained by another entity. We make no representation or warranty with respect to the information contained on the site or that it is appropriate in all jurisdictions or countries, or for use by all investors or counterparties. The products and services discussed at this site may not be appropriate for sale or use by all investors or counterparties. By providing this link, we are not providing you with investment advice or offering securities for sale to you. All persons and entities that access this site do so on their own initiative and are responsible for compliance with applicable local laws and regulations.
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The website you are accessing is created and maintained by another entity. We make no representation or warranty with respect to the information contained on the site or that it is appropriate in all jurisdictions or countries, or for use by all investors or counterparties. The products and services discussed at this site may not be appropriate for sale or use by all investors or counterparties. By providing this link, we are not providing you with investment advice or offering securities for sale to you. All persons and entities that access this site do so on their own initiative and are responsible for compliance with applicable local laws and regulations.
Insights
Monthly Cash Review - July 2020
The month of July saw the continued pattern of declining yields and stable credit conditions.
The Federal Reserve (Fed) wants us to prepare for the worst. The central bank delivered a dovish message at the July meeting without any signal for imminent policy changes, noting that forward guidance is still under review. Chairman Powell underscored that although some things had improved there is still work ahead to fully repair the economy and linked the outlook to the virus path. He noted: “Following sharp declines, economic activity and employment have picked
up somewhat in recent months but remain well below their levels at the beginning of the year.” He reiterated that the virus “poses considerable risks to the economic outlook over the medium term”. Fed officials simply marked time by acknowledging that “overall” financial conditions have improved “in recent months”.