Too Hot?

ANGLES. · Aug 7, 2022 · 5m

Markets basically just churned last week in advance of Friday’s release of the latest jobs data, with the S&P 500 closing on Thursday afternoon just a touch higher than it started the week on Monday morning.

Pelosi’s Taiwan visit and China’s entirely predictable reaction only briefly raised pulses but markets basically ignored it. Nothing to see here. Silly geopolitical stunts are not driving market sentiment, it’s still investors’ perceptions of future Federal Reserve (see EXPLAINER: FINANCIAL TERM OF THE WEEK below) actions.

Federal Reserve regional presidents seem to be reverting to their…