It's Right Under Your Nose
Last week it was all about Powell's "hawkish pause." This week, it's about the market taking a pause.
Weekend At Powell's
The market was largely anticipating the "pause" or "skip" in Fed rate action this week. What wasn't anticipated was the increase in the Fed's terminate rate, which indicated two more rate hikes could be coming after this month.
Never Gonna Give Up
Investors like to hold onto certain narratives, especially when they have invested heavily on said narrative.
D.C. Drama - Buying Opportunity?
The drama going on in D.C. over the debt ceiling is terrible to watch, but investors can't seem to take their eyes off the drama.
FOMO Or The Real Thing?
Equities have rallied this week between 1 and 3%, depending upon which market index you're tracking.
Markets In Holding Pattern
Markets seem to be in a holding pattern as there is still uncertainty surrounding interest rates, banking solvency, and the debt ceiling.