Are expectations for imminent Powell put overbaked?
Today's slide deck: https://bit.ly/30hLzg9 -
Today we look at yesterday's steep sell-off on Wall Street as the market continues to fret the rise in Treasury yields. Linked to that, we ponder whether expectations for imminent Fed action to tamp down on longer yields are overbaked as Fed Chair Powell is set for an appearance later today. A look through FX developments, especially the most pronounced mover in G10 FX, the Swiss franc, and a look at gold, oil and more on the call. On today's call were Ole Hansen on commodities and John J. Hardy hosting an on FX.
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