Gold vs. Fed Funds Futures

Gold vs. Fed Funds Futures Chart showing the current divergence between gold and the implied Fed funds rate. Image: Longview Economics

U.S. Equity Indices Futures

U.S. Equity Indices Futures The U.S. stock market is on fire. Investors have grown extremely bullish. Image: BCA Research

Brent 5-Year Futures Price

Brent 5-Year Futures Price This chart shows that long-dated oil prices stayed relatively flat after attacks on Saudi Arabia’s oil infrastructure. Image: Goldman Sachs Global Investment Research

Liquidity in U.S. Equity Futures

Liquidity in U.S. Equity Futures Liquidity in U.S. equity futures collapsed in early 2018. It has remained at very low levels. The lack of liquidity could lead to violent market moves. Image: Deutsche Bank

Fed Monetary Policy Rate Change over 6 Months Prices in (Futures) vs. Actual

Fed Monetary Policy Rate Change over 6 Months Prices in (Futures) vs. Actual Actually, the Fed decides when to raise rates, but the market decides when to cut rates. This chart shows that rate expectations are highly predictive six months in advance. You may also like “Markets Have Accurately Priced in Cuts before Easing Cycles…

Expected Fed Funds Rate

Expected Fed Funds Rate Fed funds futures for January 2021 imply an expected rate of 1.18%. Click the Image to Enlarge