SPX pre-FOMC Update

2021年11月24日

SPX can stage a reversal from early losses and move higher into the FOMC meeting. Total gamma increases by 36M to 403M midday. Between 4650 and 4700 there is net little to no gamma located, so no markers can be identified. A break above 4700 however would most likely open the door to more gains. Below 4630 vol goes up.

2021年11月24日

注释

In case you wondering about the title of this post. Its of course the FOMC Minutes, not the statement, as one could imply :). Sry.

2021年11月24日

注释

FOMC Minutes: "The risks to the baseline projection for economic activity were skewed to the downside and that the risks around the inflation projection were skewed to the upside."

2021年11月24日

注释

FOMC Minutes: "Some participants preferred a somewhat faster pace of reductions that would result in an earlier conclusion to net purchases."

2021年11月24日

注释

FOMC Minutes: "Participants generally saw the current elevated level of inflation as largely reflecting factors that were likely to be transitory but judged that inflation pressures could take longer to subside than they had previously assessed."

2021年11月24日

注释

FOMC Minutes: "Although participants expected significant inflation pressures to last for longer than they previously expected, they generally continued to anticipate that the inflation rate would diminish significantly during 2022 as supply and demand imbalances abated. Nonetheless, they indicated that their uncertainty regarding this assessment had increased."