Wednesday, May 4, 2022

Charts of the Day: Commodities Traders Need Far More Convincing...

Just a quick note on today's J. Powell press conference.

While stocks rallied on Powell poopooing a .75% hike at a future meeting and on the Fed delivering half the expected monthly balance sheet reduction (for the moment), as for the goal of taming the hottest inflation in 4 decades... umm, well, have a look at today's moves in:



Nat Gas:



Suffice to say that -- for the moment -- commodities traders need far more convincing...

Oh, and as for the dollar:

Stay tuned...

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