It's FOMC day - last chance to avoid the summer doldrums?

Today's slide deck: https://bit.ly/3xvyrTz   - Today we preview a possibly pivotal FOMC meeting if the Fed decides it is time to surprise the market on the hawkish, while we also recognize the risk that the meeting may do little to jolt this market. We also look into likely drivers of the sharp weakness in Chinese mainland shares, Oracle dropping after earnings, Gilts after a much hotter than expected CPI reading this morning, oil and copper and more. On today's pod were Peter Garnry on equities, Althea Spinozzi on fixed income, Ole Hansen on commodities and John J. Hardy hosting and on FX. Intro and outro music by AShamaluevMusic