As we await the Boris Johnson verdict, the FOMC Minutes are set to be released

If the Fed minutes were honest they would say, “Powell already leaked to CNBC and the WSJ that we’re hiking 75 bps, so our hands are tied”.

I think risk-buyers are cautious until the headlines hit on fear that there will be some very-hawkish sounding words in there. I wouldn’t be surprised if we see a risk rally afterwards, no matter what they contain because they’re already old news.

Over in the UK, Boris Johnson’s cabinet is meeting with him now and trying to convince him to go gracefully.

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