ECB capitulates on inflation. Amazon underwhelms.

Today's slide deck: https://bit.ly/3AWMxA4   -  Today we discuss the whipsaw action in equity markets as the US first closed weakly after Facebook parent Meta Platforms suffered the worst single day market cap loss for a US company in history, only to see the market enthusing, rather oddly, over Amazon and Snap results after hours. We also break down the Bank of England and ECB meetings, where Lagarde opened the floodgates by admitting that the ECB would review its policy on inflation at coming meetings. Also, the market looks ready to ignore a very ugly US January nonfarm payrolls change print today, choosing instead to focus on earnings. Today's pod features Peter Garnry on equities, Althea Spinozzi on fixed income and John J. Hardy hosting and on FX. Intro and outro music by AShamaluevMusic