Markets tilt viciously back into distress mode

Slide deck: https://bit.ly/3LS5h8E   - Today we look at the vicious swing back to risk aversion as the squeeze after a less hawkish than expected FOMC meeting failed even to hold for 24 hours. We ask whether Tesla is the last holdout for retail bulls and where to look for a technical capitulation there. We also discuss the implications of Chinese leader Xi doubling down on China's "dynamic zero Covid" policy, including on commodities, look at signs of a weak consumer sector in Europe, break down the ugly slide in sterling after an extremely downbeat Bank of England and much more. Today's pod features Peter Garnry on equities, Ole Hansen on  commodities and John J. Hardy hosting and on FX. Intro and outro music by AShamaluevMusic