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Of all the pressures of the marketplace today, none are still as strong as actions taken by the Federal Book, whose buying activity can be likened to that of a day trader's, claimed Ryan Giannotto, supervisor of research at GraniteShares.
" I would certainly even go as much to say as Powell is 99% of explaining returns in this market," he said.
Assets purchased by the Fed has broadened in extent, from traditionally-held properties like property, which have been obtained given that Measurable Easing (QE) 3, to now business paper and corporate debt, Giannotto noted.
" I would love to state that the Fed has actually now developed into basically just a military of Robinhood traders," he stated.
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What's Fed buying next on 'Robinhood account'? Answer drives 99% of markets
Of all the forces of the market today, none are still as strong as actions taken by the Federal Reserve, whose purchasing activity could be likened to that of a day trader's, said Ryan Giannotto, director of research at GraniteShares.
"I would even go as far to say as Powell is 99% of explaining returns in this market," he said.
Assets purchased by the Fed has expanded in scope, from traditionally-held assets like real estate, which have been acquired since Quantitative Easing (QE) 3, to now commercial paper and corporate debt, Giannotto noted.
"I'd like to say that the Fed has now turned into basically just an army of Robinhood traders,” he said.
__________________________________________________________________
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