Saxo Market Call

Hawkish broadside from Powell roils markets further

December 1, 2021

Today's slide deck: https://bit.ly/2ZF3n8o   -

The market administered yet another round of whiplash as very hawkish comments from Powell cement the Fed's direction shift that was just getting focus before derailed late last week by the omicron covid variant derailment, leaving market participants chopped to bits. We try to sort through the implications, noting weakening credit conditions as a key focus, as well as  value versus growth themes, individual equity stories, and the next important macro data points, which will gain increasing attention if the omicron impact eventually fades.Today's pod features Peter Garnry on equities and John J. Hardy hosting and on FX.

Intro and outro music by AShamaluevMusic

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