Still more curious comments from Fed hawk Lacker: Still more curious comments from Fed hawk Lacker: he doesn't see a problem with hiking rates, only to move back to zero if needed. He also claims "there was a pretty substantial amount" of support for a June hike at the last FOMC meeting. One could argue that start-stop policy might lack a little on the credibility front, while the markets still aren't buying what he selling on a June hike.
Euro$ interest rate futures are on the rise Euro$ interest rate futures are on the rise with the better tone in the rate complex in the wake of weak import prices and dollar gains, which are providing price dampening pressures that should help keep the Fed sidelined for now. Though Fed hawk Lacker came out swinging on a June hike earlier, markets are disinclined to believe his minority view and will hear the other extreme from dove Kocherlakota shortly. The June 2015 contract is flat at 99.685, but the deferreds are up to 4.5-ticks firmer out the curve. Dec 2015 is implying a yield of 0.635% compared to a 0.580% low on payrolls Friday.
JPMorgan global mining/coal analysts hold analyst/industry conference call Analysts provide the outlook for global coal and iron ore on an Analyst/Industry conference call to be held on April 10 at 10 am.
Fed hawk Lacker: case for hike in June will remain strong Fed hawk Lacker: case for hike in June will remain strong, while the drop in oil prices and the rising dollar will be transitory. He continues to expect core inflation to move back toward its 2% target this year and repeated the view that the weather dented economic data of late. Otherwise, his speech was a repeat of one made on March 31.