Anton74
31/12/25 16:28
Ha respondido al tema
Pulso de Mercado: Intradía
Un párrafo muy relevante de la reunión de la Fed:"(...) a more precise definition of "ample" would help clarify the Committee's intentions in implementing (...). A few participants noted the difficulties of aiming to target an appropriate level of reserves. (...) an ample-reserves definition should focus on the level of money market rates in relation to the interest rate on reserve balances, (...) such an approach would avoid some of the challenges of targeting a particular level of reserves given potential shifts in reserve demand. A couple of participants expressed the view that a definition of "ample reserves" that resulted in a larger supply of reserves than necessary to implement the Committee's framework could lead to excessive risk-taking by leveraged investors."Resumido, lo que viene a decir es: queremos un QE, pero no queremos ver más apalancamiento en bolsa.Osea, this time is different.... Este QE no es el mismo que en 2021, por lo menos no de momento. Hay que tomar nota de esta posición de la Fed que no es una postura pro-bolsa.Esta postura cuadra con la del gobierno, que quiere que la gente compre bonos (de corta duración).La Fed no va a animar a la bolsa. Hmmm.... Saludos