The market got hit with a curveball when the fed did a hawkish pivot.
The market then sold off on a double whammy from a hawkish fed and Omicron.
We got some certainty on Omicron last week, which caused the market to rally.
Finally, we got some certainty from the fed, and the market is now rallying again.
The fed actually got more hawkish and implied more tightening, but the certainty appears to be what the market was craving.
Our positioning still remains the same.
