Powell’s prepared remarks, released in advance of his testimony before the House Financial Services Committee, confirmed the FOMC is likely to deliver a 25 bps rate cut at the end of the month. This is what almost everybody demanded expected, so the algos have found their happy place.
S&P futures, which lagged all night, are currently showing a 24 pop off the overnight lows — nearly enough to send the cash index to new all-time highs.
continued for members…
Sorry, this content is for members only.Click here to get access.
Already a member? Login below… |