TODAY IS NOT A NORMAL FRIDAY.
Kevin Warsh speaks at Jackson Hole today.
This is his first big speech as Fed Chair and markets desperately want some clarity on the rate path.
If he sounds dovish- liquidity hopes return.
If he sounds hawkish - good luck to the overleveraged.
Everyone thinks they’re positioned correctly. The market usually has other plans.
Either way, volatility is invited.
Kevin Warsh speaks at Jackson Hole today.
This is his first big speech as Fed Chair and markets desperately want some clarity on the rate path.
If he sounds dovish- liquidity hopes return.
If he sounds hawkish - good luck to the overleveraged.
Everyone thinks they’re positioned correctly. The market usually has other plans.
Either way, volatility is invited.