Cheap Convexity

Cheap Convexity

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Cheap Convexity
Cheap Convexity
Powell Jackson Hole Recap

Powell Jackson Hole Recap

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Jon Turek
Aug 27, 2021
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Cheap Convexity
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Powell Jackson Hole Recap
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I think there are a few interesting thematic takeaways from Powell’s speech. On the margin the market has taken the speech as quite dovish. The reaction broadly has been higher risk, lower USD and a bit of bull steepener in the bond market. However, this seems to be missing a few aspects of the speech that will likely be the key Fed question for the res…

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