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Countertrade consensus into and after Jackson Hole. Probabilities favor a rally pre- and post- Jackson Hole. Large-cap Tech (FAANG) and Growth

Countertrade consensus into and after Jackson Hole

We think Fed Powell’s speech at Jackson Hole at 10am ET (8/26) is a buyable event. That is, under any of the following 3 scenarios, we are buyers of equities:

Powell hawkish –> speaks of need to stay tough on inflation and markets might weaken. But we buy equities as leading indicators show inflation is set to weaken = future P/E expansionPowell vague –> markets fear Powell sounds data dependent. We buy any weakness as the abo...

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