Paralysis through analysis created a slow start to an important week. Another rate hike by the Fed is now less than 48 hours away, and the topic has been discussed ad nauseum with plenty of investors attempting to dissect not only the inflation picture, but also the peak level the Fed will get to. Given the current positioning amongst participants, doing nothing is the best way to be cautious. Weighting towards equities are already at lows, as short exposure via S&P futures (according to CFTC data) is at its highest level since June 2020.
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