What to make of the Jackson Hole euphoria in markets

We doubt today’s rally in Treasuries and renewed weakness in the dollar will gather steam, despite Jerome Powell’s acknowledgement at the Jackson Hole symposium that an adjustment in the FOMC’s policy stance may be warranted.

N.B. The next edition of the Capital Daily is scheduled to be published on 26th August 2025 after the U.K. Bank Holiday on 25th August 2025.

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