Today's slide deck: https://bit.ly/3eT0rsQ -
Today we look at how the market absorbed yet another hawkish surprise from the Fed, as the FOMC minutes surprised with a robust discussion of whether an actual reduction of the Fed balance sheet is a policy option worth pursuing in addition to rate hikes. In equities, the focus of the discussion is on the heavy impact on interest-rate sensitive names and whether some of the selling there is getting overdone for the names with the strongest fundamental growth ahead of earning season. A look at gold, other metals and the strength in the USD and not least, the JPY after the FOMC minutes and more also in today's pod, which features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.
Intro and outro music by AShamaluevMusic