Bloomberg cite information compiled by Citi:
- the S&P 500 index is implied to maneuver 0.95% on Wednesday … in accordance with an choices technique referred to as an at-the-money straddle, the place merchants purchase an equal variety of calls and places with the identical strike worth and expiration
- the final time merchants priced in an FOMC-day transfer this extensive was in Could 2023
Bloomberg is gated, link is here in the event you can entry it
The Federal Open Market Committee (FOMC)’s coverage determination will probably be launched on Wednesday Could 1 at 2 pm US EDT (1800 GMT) with Fed Chair Jerome Powell following up along with his press convention at 2:30 pm (1830 GMT).
Earlier previews:
- FOMC meet this week: “the most interesting news about this meeting will come on 22 May”
- “Fed has simply run into a brick wall”
- expect a hawkish Fed and Powell
- Fed cuts are not imminent
This text was written by Eamonn Sheridan at www.forexlive.com.