(PRO/ELITE) Market Update: The Dovish Squeeze → Energy Shock → Risk De-rating

(PRO/ELITE) Market Update: The Dovish Squeeze → Energy Shock → Risk De-rating

Powell opened the door to a September cut while stressing data-dependence and the twin risks of softening jobs vs. sticky inflation. Markets cheered, but nothing in the speech pre-commits the Fed beyond a first trim. Translation: a near-term relief in financial conditions is plausible, then real-rate pressure can rebuild if inflation re-sticks into autumn.