-
Barrage Of Central Bankers Warn Markets Powell Hasn't "Pivoted" But Is It Too Late
After last Friday's close, when stocks just completed their best month since November 2020 following a torrid week which saw risk assets explode higher after the US entered a technical recession, after the Fed hiked 75bps, and even after PCE came in hotter than expected, as traders became convinced that a Fed pivot is coming, we published a must-read note from BofA's Michael Hartnett - Wall Street's most accurate and bearish analyst - who warned that while a dovish Fed pivot is certainly on the calendar, it's not coming nearly as fast as the market expects it, and cautioned that there will be at least one more ... (full story)