The market was desperate for FOMC takeaways, but alas, despite interesting details, the overall picture was one that mostly validated the existing lay of the land, resulting in some choppy market action but no big changes in the macro or FX picture by later this morning in Europe, though risk appetite seems to be getting a further boost. Are equity investors overreaching soon? Also on today's pod, single stock news, a look at the upcoming Bank of Japan meeting tonight as the JPY punches to new lows in place and much more. Today's pod hosted by Saxo Global Head of Macro Strategy John J. Hardy.
Links discussed on the podcast and our Chart of the Day can be found on the John J. Hardy substack (with a one- to two-hour delay from the time of the podcast release).
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