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Today’s SM rally explained?

Posted by Buygold @ 19:15 on May 4, 2022  

This Is What Sparked Today’s Euphoric Post-Fed Meltup

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Positioning and excess pessimism reflect a big part of the market reaction.

There is more: as we wrote repeatedly over the past week, the Fed is set to hike aggressively right into a recession, and it appears that even Powell is becoming concerned about this eventuality. To wit, Englander writes in his post-Fed note that “we also saw a few tentative indications that the Fed sees a little more risk of a slowdown (or at least a moderation in activity), and that it did not want to endorse the most hawkish views under discussion at this point.”

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.