Today’s choppy trading wasn’t the typical pre-FOMC “wait and see” action, but relative to the stomach churning swings of late the S&P’s 1.3% intraday range almost (again, that’s almost ) felt like a bit of a reprieve. Of course US indices’ gains appear embarrassingly modest in light of the recent damage that’s been done, but after a late pullback from the abyss yesterday, the back-to-back positive sessions at least suggest that investors have gotten a little more comfortable in their positioning ahead of Powell’s presser.
The content on this site is available to all Redburn clients as part of Redburn Execution’s standard service. It is not considered substantive research and there are no commercial implications to viewing these pages.
Please enter your email address below to view this page. If you are still unable to access the page, please speak to your account manager.