Tonight Powell's meeting, the market says there's no suspense, but the body is very honest.

Interest rates are most likely unchanged, what they're really afraid of is him retracting the hope that "it can still be lowered in the future."
Traders now are like waiting for the boss to announce the year-end bonus, knowing full well it won't be given, but still afraid he might also cut next year's budget 🥹
The so-called final dance is actually just before handing over the microphone, leaving one last message for the market: don't keep thinking about rate cuts, inflation isn't dead yet, and oil prices are still bouncing.
The most annoying thing is that this kind of talk doesn't need to be harsh; just change one word in the statement, bonds will fall first, the dollar will move first, and stocks will start scaring themselves.
It used to be about listening to Powell's speech to find opportunities; now it's about listening to his speech to see if we still have a chance.
The biggest ritual in the financial market is a group of adults waiting at 2 a.m. for someone to tell them whether they can continue pretending to be optimistic tomorrow.
#Deceiving you, I clear both sides of the account.