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Sucker’s Rally or the Worst Is Over?

The Breakdown

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The Fed Meeting on Inflation - What Happened?

June was a surprise, 75 basis points that had to be guided up the week of the meeting. In june, we got guid from the fed around what we were going to see next. Powell was giving unconvincing answers around his willingness to tip the economy into a recession. Meanwhile, in july, guidance was largely absent. And after front loading our hiking cycle until now, we will be much more data dependent going forward.

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