US yield plunge, risk off had nothing to do with FOMC

Link to slide deck: https://bit.ly/42jqelf   -

Today we look at yesterday's FOMC policy statement and press conference delivering, by design, as little as possible to markets and then the late slump in risk sentiment and US treasury yields that was driven by another US regional bank, PacWest declaring that it was "reviewing its strategic options". This after Fed Chair Powell declared that US banks are "sound and resilient" in yesterday' presser. We also look at the coincident spike in gold prices on this development, crude plunging again, copper near support, incoming earnings (including from Novo Nordisk), stocks to watch, the ECB coming up today and more. Today's pod features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.

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Intro and outro music by AShamaluevMusic