Reading zerohedge, watching guy's powell video, reading some tweets (all skepticism and nothing economists level solid research 🤣 ), I can only guess things are still on the way as they have been.
Credit Suisse might go down, possibly nobody to help them this time around. If this happens, institutions like them will also suffer the same issues.
Powell seems to still determined to raise 150bps or something like that by end of year in different months based on the Q&A description by guy. Take this info with all with grain of salt you wish.
Bank of America's Hartnett claims markets will keep selling till Holloween, and then starts recovering back slowly, but there too so many conditions apply.
The DXY increase and rate hikes resulting devaluing every other national currency means overall losses in foreign earnings for US companies. I heard it impacts somewhere about 20% to 30% for them and some of the major portion of S&P500 companies suffer with such impact. That logically should result in drop in S&P500 price, and I guess it did already to some extent, and so did NASDAQ and DOWJ.
If things are still to go further, just based on financial markets alone the downside rally doesn't seem to have stopped yet.
And if by Benjamin Cowen's logic, Fed feels OK with Unemployment raising to 4% OK, they might just keep increasing interest rates past 4% to 5% unless something really starts breaking big time in Global Financial Markets. Possibly they may pause or take a moment to plan and agree in private meeting who they are OK with sacrificing to kill inflation and take it down to 2%, and who not. Keep some zombie companies alive and let others die off.
Interesting times to see.
What we have seen in crypto with Voyger and 3Arrows, we will see that now with Banks and traditional markets too.
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