MBCC TH 26th July'23 - "All eyes on the Fed FOMC tonight, but keep an eye on back end inflation swaps, #ouch!"

So as we head into the forgone conclusion of the fed FOMC tonight, we know they raise by 25 bps, which is about 300 bps too much anyway, but of course they dont know what else to do, than keep going. They think they have created this immaculate disinflation but have no clue what is going on in China or how bad it is.

We break it down and what our cross asset indicators are pointing here - is the Chinese Politburo meeting positive for Commodities?