5min chapter

The Macro Trading Floor cover image

Animal Spirits Are Back For Markets

The Macro Trading Floor

CHAPTER

Is Powell Talking Tough?

Everyone, probably even including the two of us, had expected him to talk tough and he did not. And therefore you could also see it in positioning data heading into this FMC meeting. We had net shorts and bonds at new highs relative to what we've seen over the course of past months. It was a new all time record in the SQQQ in January. So it tells you a little bit about the positioning into this meeting despite the rally that we've seen in equity markets. I lean long equities after this. I have to admit that. Even though I've been net long equities in a slightly defensive manner, I think it's fair to say that the average investor

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