The Day Ahead: PM Edition 2022-08-17

Equities bounce on the FOMC minutes but sell off shortly thereafter

Bonds

I’m starting to turn slightly more bearish in the nano-picture in bonds since they are having trouble bouncing above the moving averages. They could conceivably push down from the mild retrace at 141^22 and accelerate toward 138^06. That said, I can’t rule out a better bounce attempt first.

Is the minor retrace enough?

Crude Oil

CL retested the low fr…