Analyst: Jackson Hole meeting is not a major event that triggers market volatility

Odaily Odaily reported that market analyst Liz McCormick said that bond and stock investors are betting that Powell will play it safe in his Jackson Hole speech later. With a few exceptions, this meeting is not a major event that affects the market. Strategists at JPMorgan Chase and Deutsche Bank expect bonds to move modestly during the meeting, while options traders are betting that stocks will fluctuate slightly in the coming days. Compiled data show that over the past decade, the average fluctuation of 2-year and 10-year U.S. Treasury yields has been less than 4 basis points, and the average fluctuation of the S&P 500 index has been around 1.3%. But market shocks are not impossible: two years ago, Powell surprised the market with a hawkish speech, warning investors that fighting inflation would bring "pain" to households and businesses. (Jinshi)