As I was posting just a few days ago the calm has been shattered.
The trigger in reality as not been the hawkish Fed speak (quite similar to the previous ones) but from the ECB and Draghi not announcing new measures.
It completely confirms that the reserve banks are underpinning this market and whatever they do will make or break the market.
And by the way “silly” Trump just said the same (not so silly as represented?).
Still believe the 20 September the Fed will do nothing and the market will relax a bit (if Fed raises for real…market goes in tailspin and with markets in tailspin usually the challenger (Trump) wins…and the establishment does not like it).
investorpolitico 