Global Markets are rallying, with the 10-year yield dipping below 2% last night, crude ripping higher, as well as Gold breaking out to multi-year highs.
Chair Powell left something for everyone at his press conference, while the FOMC Dot Plot is mixed. The Market currently expects 3 cuts through December. This is in sharp contrast from a year ago where 3 hikes were priced in.
So far, option markets have inefficiently priced risk with the SP500 rocketing past the weekly implied move of 41 points eclipsing 2928 towards a 2 sigma move. These moves have left many of our levels off-the-map.
All the best,