(Kitco News) – Friday’s dramatic metals selloff – the largest liquidity event in market history – was catalyzed by sudden clarity about the future of the Federal Reserve, according to Rhona O’Connell, Head of Market Analysis for EMEA & Asia at StoneX.“Main hook for the correction? Friday’s announcement of the nomination for Fed Chair,” she wrote in a note on Monday. “I don’t think the fact that it’s Kevin Warsh makes any difference, given that the Fed is a voting Board, not a one-man band. It could have been anyone, on that basis.”
(Kitco News) – Friday’s dramatic metals selloff – the largest liquidity event in market history – was catalyzed by sudden clarity about the future of the Federal Reserve, according to Rhona O’Connell, Head of Market Analysis for EMEA & Asia at StoneX.“Main hook for the correction? Friday’s announcement of the nomination for Fed Chair,” she wrote in a note on Monday. “I don’t think the fact that it’s Kevin Warsh makes any difference, given that the Fed is a voting Board, not a one-man band. It could have been anyone, on that basis.”