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Rate Cuts Are Coming
Jerome Powell's keynote address in Jackson Hole was overtly -- unequivocally, deliberately -- dovish.
No other interpretations were possible, but on the off chance you were inclined to venture an alternative take on Powell's prepared remarks, the dollar testified loudly to his intent.
As the figure below shows, the greenback was on track for its largest one-day decline since November 14, when a favorable CPI report called an end to the hiking cycle once and for all, notwithstanding the success
Being solely focused on flows and vol, I found the last question to be very relevant. (As in I was wondering that myself without JL’s energy to look up things like that.)
@derek, I’m literally on a beach, so there will be no looking up of things here, unless referring to the next G&T.
A worthy task!