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Stocks Drop As Rate-Hike Odds Pop After Powell’s Brief Message
While reactions to Fed Chair Powell’s 8 minute message are varied, the markets’ response seems sure – hawkish-er than expected…
The odds of a 75bps hike in September are back above 60%…
The short-end of the yield curve is spiking relative to the long-end…
The yield curve is flattening/inverting even further…
And stocks are sliding fast on the not-dovish-enough message…
The dollar is higher post-Powell…
But the question is – will this hawkish/recession-implying reaction hold in these illiquid markets?
Tyler Durden
Fri, 08/26/2022 – 10:31
