On Wed Powell’s “dovish hike” sent $ and bond yields lower, equities higher & tightened credit spreads = easing financial conditions.
On Thursday, the market realised that this is completely the opposite of what the Fed is trying to engineer -> sells off.
ft.com/content/70bdf2… https://t.co/ybQTpsBplf
RT @BJMbraun: How to be an effective political economist: Laser focus on the neuralgic points of the state-market nexus, follow
May 18, 2023
RT @BJMbraun: How to be an effective political economist: Laser focus on the neuralgic points of the state-market nexus, follow the money,…