06 DEC 2021

Hawkish Powell Sparked More Volatility

News and insights

Key Points

Despite Omicron, Powell made hawkish comments on accelerating tapering process, sparking new rounds of volatility

Encouraging underlying trend beneath the surface of the disappointing headline reading of the November employment report

Credit valuation corrected to some extent, and hedging activity has reached an all-time high in Europe, leaving some breathing room in case of further volatility; high carry and low duration products remain the favorite spot to add following recent selloff

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