A modest risk off tone defined month and quarter end today until US Indices flipped the script with roughly fifteen minutes to go, righting the ship and then some as the S&P500 closed at yet another all-time high, posting the first positive September since 2019 – seasonality be damned! Powell took to the podium early afternoon and though his pre-prepared remarks broadly reiterated what we heard from the Fed’s meeting earlier this month, the Q&A portion sparked a stark sell off when the Fed chai…
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