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2023 May 3rd EST Memorandum

Disclaimer:

Nothing contained in the following content constitutes an offer, solicitation, or recommendation regarding any investment management product or service, or the offer to sell or the solicitation of an offer to buy any security; The following content is purely for information only and is based on information available at the time it was created. It does not take your financial situation or goals into consideration, and may not be suited for you.


Update on the May 2nd Memo

As the market expected, we had a 25 basis point hike. The tone was neither hawkish nor dovish. We can expect Powell to continue nudging the market and using vague language to anchor inflation expectations in the coming months.


There was a flush down in today’s trading session, but more investors still need to be cleaned out, at least in the short term.


The VIX and dollar are poised to pop.


At present, the mechanics of the market are more important than the macro outlook. Whether the flush will impact the medium-term and long-term outlook depends on future data.


Note:

The introduction of new data may render the current model output obsolete as additional information becomes available.


Disclaimer:

Nothing contained in the proceeding content constitutes an offer, solicitation, or recommendation regarding any investment management product or service, or the offer to sell or the solicitation of an offer to buy any security; The above content is purely for information only and is based on information available at the time it was created. It does not take your financial situation or goals into consideration, and may not be suited for you.

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