The week ahead
PH: The week starts with the opening of the OceanaGold PH [OGP 13.33 pre-IPO] offer period, which will run through May 6. Then, things get a little weird when we hit the pause button on Wednesday with a day off to recognize Labor Day. We get back to work the next day just in time to read about the US Federal Reserve’s interest rate decision when we wake up on Thursday.International: The only thing on the calendar is the big US Federal Reserve interest rate decision that will happen in between Wednesday night and Thursday morning. MB BOTTOM-LINE: I kind of want to get off Mr. Bones’ Wild (inflation) Ride (ancient internet history link). The mechanical repetition of “higher for longer” has stopped (IMHO) explaining the mood on the ground in the US, which is one where many of the metrics are moving in the wrong direction to support a pivot. We’ve gone from “when Fed F23 pivot” to “when pivot” to “what if the fight isn’t over?” to “do we need another raise?” to “maybe we need another raise” in just the past four months alone. Keep in mind though that the BSP’s situation is slightly different. This should be an interesting week.
