While 10-yr yields and Fed Funds barely budge post-Jackson Hole, equities decline sharply = countertrade. U Mich survey shows Republicans primarily see "sticky" inflation.

The tape feels vulnerable. But as Helene Meisler, TA, likes to say, "nothing like price to change sentiment"

  • and post-Jackson Hole, investors have become very bearish
Equities sold off sharply post-Powell's speech at Jackson Hole (JH) on Friday (8/26). The Jackson Hole speech is not the only macro development, as Friday also saw hawkish rhetoric from the ECB and negative development on the Russia-Ukraine war (as noted by Vital Knowledge). But investors took Friday...

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