A look at the day ahead in U.S. and global markets from Mike Dolan.
With just four hours to Jerome Powell's podium appearance at Jackson Hole, all the 'ifs' and 'buts' have been debated and the jerky last minute market positioning done and dusted.Register now for FREE unlimited access to Reuters.comBut the barrage of comments and interviews from his Fed colleagues over the past 24 hours leaves markets with little new to chew on about the policy trajectory.
That said, futures are again leaning to 60% chance of another 75 basis point hike at the September meeting. Even though bond markets wobbled and the dollar jumped back in anticipation of the speech this week, Wall St stocks seemed less bothered - staging their best one-day rally in two weeks on Thursday and with stock futures holding those gains today.
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