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At the May FOMC meeting, Federal Reserve Chair Jerome Powell suggested the Bank's monetary policy stance was “in a good place”, but it is obvious that officials are concerned about the recent lack of progress on inflation. Rate hikes remain unlikely, but the Fed is prepared to leave interest rates at current levels until that progress is achieved or the ...
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An ugly jobless claims print was the day's early catalyst sending yields significantly lower, stocks, gold, oil, and crypto higher and the dollar down with rate-cut expectations re-ignited... chart A dovish shift supported stocks - which had a "squeezey feel" amid very low liquidity... chart Goldman's trading desk noted that while yesterday was the ...