Expectations extremely dovish, vols somewhat muted, economic growth robust, fincon easy; for a highly critical week or two that has the potential to cause a polarising shift in sentiment from a cut in September to the possibility of no cuts at all this year, market appears ill-prepared.
Growth is strong and you're dovish?
“Markets are just positions” ‘X’ has been very busy dissecting and opining on Powell’s Jackson Hole speech this weekend, and what stood out to me in particular is the many views that pointed to the price action to substantiate their view. We believe this is wrong without understanding the
Plenty of mixed signals...
Big picture trade ideas I explore potential themes and tactical opportunities around the major (except JPY and CHF) over the coming weeks, and hopefully the months ahead should some of those views take shape.