Heat (but not much light).
(Slightly longer report than usual this time around, but last week was a doozy)
Last week’s big story was always supposed to be the Fed’s interest rate hike on Wednesday but in the end, that proved to be rather uneventful and lacked any kind of a wow moment. The surprise-averse stock market absolutely loved that.
But what really generated a huge amount of heat but precious little light was the often hyperbolic, ill-informed and sometimes blatantly politically motivated media reaction to the preliminary estimate of Q2 2022 Gross Domestic Product (GDP) on Thursday. Who knew that the release of…
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