Stocks bounce after Q&A ends
Powell spoke for a full hour and stock markets hit session highs early followed by session lows late. The takeaway is that Powell is unlikely to do more in terms of QE but at the same time he was very clear that rates will stay low for a long time.
I think risk assets will ultimately like it but there’s an ebb and flow.
FX followed a similar path with USD/CAD dropping to 1.3125 from 1.3175 and then coming all the way back.