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one investor appears to be moving expectations for market weakness out further into the early winter months through use of an options combination that will benefit if another summer market rout for stocks forces the volatility curve to blows higher still.
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It can try to move expectations by announcing that it will keep short-term rates low for a long time.
And since the whole point is to move expectations, leaving this kind of wiggle room is not a good thing.
"But as one gets closer, and there's rising anxiety, it might not be a bad idea to move expectations down".
Back in 2000, Mr. Bernanke also suggested that the Bank of Japan could move expectations by making announcements about its future policies.
It would not move market expectations.
But at least the Fed is trying to move inflationary expectations in the right direction, by saying that it stands ready to go down this road and publicly sounding confident that it can succeed.
On Friday afternoon, the signals were mixed: high-yield bonds and junk bonds eased slightly, but Treasury bills moved against expectations, becoming more expensive as investors remained nervous about emerging from the safety of government notes.
Given that the Fed appears to be having trouble getting these new policies to move inflation expectations or interest rates, a dramatic change may be harder than originally thought.
This shift in the fashion consumer paradigm has moved consumer expectations from the TCE value associated with extrinsic and intrinsic benefits and attached to product and service attributes to GCE experiential benefits.
As consumers move toward expectations that retailers will get it right the first time, their attention spans have shortened for retailers unable to align their offerings with personalized preferences out of the gate.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com