I’ve been waiting for the Powell Pivot for a long, long time. On Friday morning, it finally arrived.
What Friday Meant
Slope of Hope Blog Posts
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Fetishizing Jackson Hole
Since the Jackson Hole shindig is this week, I thought I’d brush off the Event Markers feature and see how the past few years have been with respect to this big speech. Folks assume that, oh boy, things will be so great once Powell gets up to the microphone. Don’t be so sure. Below each vertical line marks Jackson Hole and, umm, it isn’t exactly a straight line up from there.
Latest Liquidity
Liquidity Look-See
As we amble into what is bound to be a languorous trading environment until next Monday morning, here are the updated charts from the Fed. QT continues apace, with Fed Assets approaching the levels of four years ago:
You Big Cutie!
Remember when we all thought that once quantitative tightening would take place, it would take the equity market with it? Good times. Good times.
