Thoughts ahead of Jackson Hole and into early September

This week George Goncalves, MUFG Head of U.S. Macro Strategy, puts into context how risk market preferences and a buy the dip mentality has likely led to the bounce from oversold conditions that were present at the early start of August around the adjustments of positioning.  George remains cautious and expects more episodic vol events over the end of summer into early Fall. Meanwhile, George highlights what to watch and what may change chair Powell’s message at Jackson Hole with the jobs data being the driver.