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After the S&P500 turned positive for the year yesterday, market sentiment has soured ahead of tomorrow’s FOMC meeting, where no major changes are expected to the policy rate or QE program.The main data this morning has been Eurozone Q1 GDP which was revised slightly upward to -3.6%, an historic decline caused by domestic lockdowns. While all the talk is about reflation and recovery, a V-shaped scenario is still not locked in yet as job losses pile up and investment stays subdued.US stock futures and oil are cooling off after their recent surges, while king dollar and havens like... Read More
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