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On September 16th, the Bank of England (BoE) announced it expects to significantly slow the pace of its balance sheet reduction. Some investors are even calling for a "drastic" measure—a complete halt to all active bond sales—to ease pressure in the UK gilt market. The BoEs Monetary Policy Committee will announce whether it will slow the pace of its gilt bond reductions alongside its latest interest rate decision this Thursday. This reduction is part of its quantitative tightening program. Currently, the BoE is reducing its holdings by £100 billion annually through active sales and maturing bonds, down to £558 billion. According to a recent official survey, UK gilt investors expect this rate to slow to approximately £72 billion per year.The Federal Reserve accepted a total of $16.954 billion from 16 counterparties in fixed-rate reverse repurchase operations.The Bank of England is expected to slow the pace of balance sheet reduction following market turmoil.On September 16th, Fitch Ratings stated that the US governments recent equity investment in Intel marks an escalation in its industrial policy, potentially leading to unexpected and widespread efficiency distortions in the global semiconductor industry. The intervention is unlikely to negatively impact the overall credit profile of chipmakers. "If the transaction is legally confirmed, it could distort capital investment in the US by wafer foundries, including Intel and current foundry leader TSMC, and prompt fabless chip designers to establish duplicate supply chains."Sources said: STMicroelectronics said in a meeting with the Italian government that it has no plans to lay off workers at the Agrat plant.

S&P 500 Price Forecast – Stock Markets Quiet to Open Up Holiday Week

Florala Chen

Nov 22, 2022 15:58

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Technical Analysis of the S&P 500

The Monday trading session saw very little movement for the S&P 500 E-mini contract, which is currently sitting just over the 3950 level and just below the 200-Day EMA, which is at the 4025 level. In the end, I believe that the market will soon make a bigger decision, but for the time being it appears that Wall Street is still searching for the, so one would have to assume that there are some investors who are willing to purchase stocks on the basis of the notion of the "Santa Claus rally."


The 50-Day EMA, located precisely at the 3863 level, enters the picture if the market does break down from this point. I anticipate seeing a large degree of resistance to any selling in that range. The 3800 level and a more serious breakdown could be in danger if we fall below there.


The market is still in a downtrend, despite recent signs of a great recovery, and we have even seen the 200-Day EMA and the downtrend line enter the picture and provide at least some psychological resistance. Keeping this in mind, bear in mind that we are still trying to price in a recession.


We may observe a similar trend in the S&P 500 if the US currency strengthens more. Given enough time, I would fully expect the market to make a larger breakout, but since it is Thanksgiving week, it's highly likely that it may be waiting for that to happen.

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