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Amadeus et al. (2022) observe that aggregated, consensus (top-down) central bank monetary tones in media contain predictive information pertaining to future weekly yield fluctuations. This article elucidates the more granular, stratified (bottom-up) dynamics underlying these relations. The predictive relationships between Fed consensus tones and yields are primarily driven by an underreaction of yields to the Fed Board of Governors' tones between monetary policy meetings. Over short-term horizons, Treasury yields appear to price voting FOMC members' (Board of Governors' and Regional Bank Presidents') tones while relatively longer-term horizon yields appear to reflect both voting and non-voting tones. Fed Regional Bank Presidents' monetary tones are more responsive to regional inflation fluctuations than to unemployment. The analysis of the heterogeneous impacts of Fed members' tones over distinct yield horizons provides insights pertaining to the pricing of voting and non-voting Fed members' tones in Treasury markets. [ABSTRACT FROM AUTHOR]

The Federal Reserve's influence on the economy and financial markets is substantial and well-recognized by market participants. Over the past few years, both the financial and popular media have been obsessed with Fed actions and speculation on potential Fed actions. While advisors and clients closely monitor monetary policy actions, there is confusion about the implications these actions have for stock market returns. This analysis documents the association between both general stock market returns and equity sector returns during expansive, indeterminate, and restrictive monetary policy conditions. Advisors can use the results to both condition clients' expectations and make portfolio adjustments to take advantage of historical patterns in equity sector returns. [ABSTRACT FROM AUTHOR]

This paper shows that the effects of expansionary monetary policy on the U.S. stock market are asymmetric across different monetary policy phases and different stock market regimes. A Markov-switching dynamic factor model dates the periods of stock market regimes, and generates a new composite measure for overall stock market movements. A time-varying parameter analysis finds that an expansionary monetary policy such as an increase in monetary aggregates or a decrease in the Federal funds rate has positive impacts on stock returns only during the periods in which they are used as monetary policy targets by the Federal Reserve. [ABSTRACT FROM AUTHOR]

This research examines the effect of desecrating independent variable Rate of return on shareholder's fund, provision coverage ratio, Net Non-Performing assets, Credit to deposit ratio, Net interest margin, profit per employee and unique dependent variable rate of return on assets of Punjab national bank. Secondary data has been considered in the study. The data has been collected from official websites of the Reserve bank of India and published by Punjab National Bank. To get the concrete results researcher has collected the data for the period of 1st April 2009 to 31st March 2018. The study reveals that the Rate of Return on assets has an extremely positive co-relation with the bank's net interest margin, Rate of return on shareholder's fund and credit to deposit ratio. On the other hand, Rate of return on assets has a partial positive relation to the bank's provision coverage ratio and credit to deposit ratio. Vice versa rate of return on assets has perfect negative co-relation with bank's net non-performing assets. Similarly, the rate of return on assets has a partial negative relation with the bank's profit per employee. The study also concludes that due to the high provision of Non-performing assets, net profit the company continuously decreases. [ABSTRACT FROM AUTHOR]

According to standard macroeconomic models, the zero lower bound greatly reduces the effectiveness of monetary policy and increases the efficacy of fiscal policy. However, private-sector decisions depend on the entire path of expected future short-term interest rates, not just the current short-term rate. Put differently, longer-term yields matter. We show how to measure the zero bound's effects on yields of any maturity. Indeed, 1- and 2-year Treasury yields were surprisingly unconstrained throughout 2008 to 2010, suggesting that monetary and fiscal policy were about as effective as usual during this period. Only beginning in late 2011 did these yields become more constrained. (JEL E43, E52, E62) [ABSTRACT FROM AUTHOR]

The article informs that National Automated Clearing House Association (NACHA), in coordination with the automated clearing houses operators, will arrange for a system for collection and distribution of Unauthorized Entry Fees from and to Federal Reserve accounts that Participating depository financial institutions (DFIs) use for settlement of their ACH activities. It mentions that staff of NACHA will consider the extent to which the then-current fee amount has had an effect on Return rates.