How the stock market works, ’60s cartoon edition

Three Fed dissents point to a gradual, pre-emptive tightening bias rather than urgency, while the BoE raises the bar for hikes and the BoJ’s FX intervention strengthens the case for Q4 normalization.

Looking at data points seems like a waste of time. They used to matter, and given that the next Fed meeting isn’t until mid-March, the market will probably look through the report anyway.

The world is focused on the conflict between Iran and the United States. What the outcome looks like is the crucial question for the entire world.