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Some curious facts from Deutsche Bank: Powell has now presided over 24 FOMCs and on average the S&P 500 has been -0.15% (15 out of the 24 were down days) lower on decision day – though this is heavily weighted by his first 7 meetings, which saw equities slip back when the Fed started its small hiking cycle in 2018. In terms of 10 year yields they have been -3.0bps lower on average with a median of -1.6bps (16 out 24 down in yield) on Powell FOMC days. To put this in perspective the S&P 500 is up +49.5% since his tenure begun in February 2018 and 10yr yields are down -108.8bps.

U.S import prices jump as oil and other commodities rally (SPY -0.1%). Lithium prices have soared 88% this year. The Market in Perspective Here are the headlines moving the markets. Are Analysts Underestimating Chinese Oil Demand? Chinas annual session of the National Peoples Congress (NPC) last week set an annual economic growth target that at above 6 per cent - looks conservative to many and, as such, it is likely that the countrys demand for oil will be significantly higher than is implied in the growth figure. The soft economic growth target is a really low bar considering that annual ...