Model switches to CASH/NEUTRAL.
Powell's words to soothe markets could create another dead cat bounce here, so best to take profits. The overall downtrend most likely remains intact as Powell remains hawkish, but did say he does not see a 75 bps rate hike on the table and thinks inflation may flatten along with some evidence of peaking core PCE.
Market Direction Model - Model switches to CASH/NEUTRAL on May 4, 2022
|Published:||4 May 2022 15:24 ET|
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