{"id":137175,"date":"2022-05-05T12:22:00","date_gmt":"2022-05-05T16:22:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=137175"},"modified":"2023-02-10T13:31:15","modified_gmt":"2023-02-10T18:31:15","slug":"goldilocks-or-kobe-bryant","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/goldilocks-or-kobe-bryant\/","title":{"rendered":"Goldilocks or Kobe Bryant?"},"content":{"rendered":"\n<p>I\u2019m sure that many of you are wondering why a late basketball superstar is mentioned in the title of today\u2019s piece.&nbsp; Kobe Bryant was regarded as having one of the best pump fake moves in basketball history.&nbsp; The market\u2019s immediate reaction to Chairman Powell\u2019s press conference was exuberant, with 3% jumps in major US indices in the final 90 minutes of the day.&nbsp; As I write this, about 90 minutes into the following session, we have given back all those gains and then some.&nbsp; Can you blame me for thinking about classic pump fakes at a time like this?<\/p>\n\n\n\n<p>Note the significant round trip in just 3 hours of normal market hours (and notice that we\u2019re still up for the week):<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-4-day-chart-nasdaq-100-index-ndx-red-green-1-minute-bars-s-p-500-index-spx-blue-line\"><strong>4 Day Chart NASDAQ 100 Index (NDX, red\/green 1 minute bars), S&amp;P 500 Index (SPX, blue line)<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"975\" height=\"714\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2022\/05\/image-20.png\" alt=\"4 Day Chart NASDAQ 100 Index (NDX, red\/green 1 minute bars), S&amp;P 500 Index (SPX, blue line)\" class=\"wp-image-137181 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2022\/05\/image-20.png 975w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2022\/05\/image-20-700x513.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2022\/05\/image-20-300x220.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2022\/05\/image-20-768x562.png 768w\" data-sizes=\"(max-width: 975px) 100vw, 975px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 975px; aspect-ratio: 975\/714;\" \/><\/figure>\n\n\n\n<p><em>Source: Interactive Brokers<\/em><\/p>\n\n\n\n<p>It appeared for a while that Mr. Powell was inhabiting his classic role as \u201c<a href=\"\/campus\/traders-insight\/securities\/macro\/goldilocks-is-a-68-year-old-man-in-a-suit\/\">Goldilocks in a Suit<\/a>,\u201d assuaging the worst fears that investors held after weeks of jawboning by various Fed Governors.&nbsp; The FOMC raised its target rate by 50 basis points, as expected, and outlined its plans for reducing the size of its balance sheet beginning in June.&nbsp; The Fed\u2019s plans for balance sheet reduction were somewhat vague before yesterday, and bond investors seemed pleased with the news that the Fed will allow a maximum of $47.5 billion in maturing bonds to run off its balance sheet for three months starting in June and doubling that amount to $95 billion per month from September on.&nbsp; At that pace, the balance sheet would shrink by about $1 trillion per year.&nbsp; Considering that the balance sheet more than doubled from about $4.5 trillion before March 2020 to just under $9 trillion now, that would still leave a significant amount of financial accommodation in place for several years.&nbsp; Bond traders, who are usually more clear-eyed than their equity counterparts, relished that news.&nbsp; Two-year note yields fell by 14 basis points from a multi-year high of 2.784%, and 10-year yields fell by about 4 basis points.&nbsp; It turns out that bond traders bit on the pump fake too.&nbsp; Today the 2-year yield has recouped about half yesterday\u2019s drop, while the 10-year yield is currently 15 basis points higher at a multi-year high of 3.08%)<\/p>\n\n\n\n<p>As is often the case, traders fixated on one line in the commentary \u2013 Mr. Powell\u2019s comment that a 75-basis point hike was not \u201cactively considered\u201d.&nbsp; We noted yesterday that Fed Funds futures were implying just under a 50% chance of a 75-basis point rise at the next FOMC meeting.&nbsp; After an evening to consider that comment, many investors realized that a 12.5 basis point reduction in the implied Fed Funds rate for the coming six weeks[i] was hardly worth the enthusiastic response.&nbsp; For starters, Mr. Powell kept the possibility of bigger hikes on the table, they\u2019re simply not under active consideration.&nbsp; Alternatively, many investors took the relatively dovish tone of the press conference as a sign that the Fed\u2019s inflation-fighting resolve may not be sufficient.&nbsp; The rising yields at the long end of the curve send that message, which equities are now hearing.<\/p>\n\n\n\n<p><a href=\"\/campus\/traders-insight\/securities\/macro\/sell-in-may-and-go-away-but-go-where\/\">Ahead of yesterday\u2019s meeting, we asserted<\/a> that there was a reasonable likelihood for a relief rally in the three-day period ending.&nbsp; That seemed prescient yesterday, less so now.&nbsp; Much will depend upon the market\u2019s reaction to tomorrow morning\u2019s Nonfarm Payrolls and Unemployment reports.&nbsp; As of now, <a href=\"\/campus\/traders-insight\/securities\/macro\/when-does-sell-the-rips-replace-buy-the-dips\/\">our January call to \u201cSell the Rips\u201d<\/a> remains firmly in place.&nbsp; Yesterday\u2019s move seemed overdone and due for a fade, but today\u2019s moves are more than routine profit taking \u2013 this is a potentially vicious selloff.<\/p>\n\n\n\n<p>Earlier in January, after Congressional testimony that soothed some frayed nerves that investors were displaying while indices pulled back from a year-end rally, I questioned whether Chairman Powell was \u201c<a href=\"\/campus\/traders-insight\/securities\/macro\/goldilocks-in-a-suit-sully-sullenberger\/\">Goldilocks in a Suit or Sully Sullenberger<\/a>\u201d.&nbsp; Even at the time we questioned whether the Fed Chair was as skilled a pilot as the market believed him to be, <a href=\"\/campus\/traders-insight\/securities\/macro\/goldilocks-in-a-suit-sully-sullenberger\/\">writing<\/a>:<\/p>\n\n\n\n<p>\u201c<em>Here\u2019s the problem with that analogy: we have no idea if Mr. Powell will be able to land the market without incident this time around<\/em>.\u201d<\/p>\n\n\n\n<p>Today, after a Kobe-worthy pump fake and ongoing volatility, we\u2019ll extend the pilot analogy one step further \u2013 please make sure your belts are securely fastened, because the fasten seat belt sign remains lit.<\/p>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>[i] A 50% chance of an incremental 0.25% hike is an expected value of 12.5 basis points.&nbsp; (0.5 * 0.25% = 0.125%; a basis point is 1\/100 of a percent)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The market\u2019s immediate reaction to Chairman Powell\u2019s press conference was exuberant, with 3% jumps in major US indices in the final 90 minutes of the day.<\/p>\n","protected":false},"author":4,"featured_media":32573,"comment_status":"closed","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[14700,18,6,8,9,26,3],"tags":[314,558],"contributors-categories":[13576],"class_list":{"0":"post-137175","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ibkr-market-insights","8":"category-macro","9":"category-north-america","10":"category-region","11":"category-securities","12":"category-text-articles","13":"category-traders-insight","14":"tag-fomc","15":"tag-ndx","16":"contributors-categories-interactive-brokers"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Goldilocks or Kobe Bryant? | Traders&#039; Insight<\/title>\n<meta name=\"description\" content=\"The market\u2019s immediate reaction to Chairman Powell\u2019s press conference was exuberant, with 3% jumps in major US indices in the final 90 minutes of...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/137175\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Goldilocks or Kobe Bryant? | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"The market\u2019s immediate reaction to Chairman Powell\u2019s press conference was exuberant, with 3% jumps in major US indices in the final 90 minutes of the day.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/goldilocks-or-kobe-bryant\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-05T16:22:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-10T18:31:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2020\/01\/federal-reserve.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"540\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steve Sosnick\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Steve Sosnick\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t    \"@context\": \"https:\\\/\\\/schema.org\",\n\t    \"@graph\": [\n\t        {\n\t            \"@type\": \"NewsArticle\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/goldilocks-or-kobe-bryant\\\/#article\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/goldilocks-or-kobe-bryant\\\/\"\n\t            },\n\t            \"author\": {\n\t                \"name\": \"Steve Sosnick\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\"\n\t            },\n\t            \"headline\": \"Goldilocks or Kobe Bryant?\",\n\t            \"datePublished\": \"2022-05-05T16:22:00+00:00\",\n\t            \"dateModified\": \"2023-02-10T18:31:15+00:00\",\n\t            \"mainEntityOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/goldilocks-or-kobe-bryant\\\/\"\n\t            },\n\t            \"wordCount\": 772,\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/goldilocks-or-kobe-bryant\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2020\\\/01\\\/federal-reserve.jpg\",\n\t            \"keywords\": [\n\t                \"FOMC\",\n\t                \"NDX\"\n\t            ],\n\t            \"articleSection\": [\n\t                \"IBKR Insights\",\n\t                \"Macro\",\n\t                \"North America\",\n\t                \"Region\",\n\t                \"Securities\",\n\t                \"Text Articles\",\n\t                \"Traders' Insight\"\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"WebPage\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/goldilocks-or-kobe-bryant\\\/\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/goldilocks-or-kobe-bryant\\\/\",\n\t            \"name\": \"Goldilocks or Kobe Bryant? | IBKR Campus US\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\"\n\t            },\n\t            \"primaryImageOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/goldilocks-or-kobe-bryant\\\/#primaryimage\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/goldilocks-or-kobe-bryant\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2020\\\/01\\\/federal-reserve.jpg\",\n\t            \"datePublished\": \"2022-05-05T16:22:00+00:00\",\n\t            \"dateModified\": \"2023-02-10T18:31:15+00:00\",\n\t            \"description\": \"The market\u2019s immediate reaction to Chairman Powell\u2019s press conference was exuberant, with 3% jumps in major US indices in the final 90 minutes of the day.\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"ReadAction\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/goldilocks-or-kobe-bryant\\\/\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"ImageObject\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/goldilocks-or-kobe-bryant\\\/#primaryimage\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2020\\\/01\\\/federal-reserve.jpg\",\n\t            \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2020\\\/01\\\/federal-reserve.jpg\",\n\t            \"width\": 900,\n\t            \"height\": 540,\n\t            \"caption\": \"Five Themes That Could Move Markets This Year\"\n\t        },\n\t        {\n\t            \"@type\": \"WebSite\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"name\": \"IBKR Campus US\",\n\t            \"description\": \"Financial Education from Interactive Brokers\",\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"SearchAction\",\n\t                    \"target\": {\n\t                        \"@type\": \"EntryPoint\",\n\t                        \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/?s={search_term_string}\"\n\t                    },\n\t                    \"query-input\": {\n\t                        \"@type\": \"PropertyValueSpecification\",\n\t                        \"valueRequired\": true,\n\t                        \"valueName\": \"search_term_string\"\n\t                    }\n\t                }\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"Organization\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\",\n\t            \"name\": \"Interactive Brokers\",\n\t            \"alternateName\": \"IBKR\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"logo\": {\n\t                \"@type\": \"ImageObject\",\n\t                \"inLanguage\": \"en-US\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\",\n\t                \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"width\": 669,\n\t                \"height\": 669,\n\t                \"caption\": \"Interactive Brokers\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\"\n\t            },\n\t            \"publishingPrinciples\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/about-ibkr-campus\\\/\",\n\t            \"ethicsPolicy\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/cyber-security-notice\\\/\"\n\t        },\n\t        {\n\t            \"@type\": \"Person\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\",\n\t            \"name\": \"Steve Sosnick\",\n\t            \"description\": \"Steve is the Chief Strategist at Interactive Brokers. He has held numerous roles in the organization since joining Timber Hill, IBKR\u2019s predecessor, in 1995 as Equity Risk Manager and an options market maker. He developed and implemented automated trading strategies for stocks and options before moving into his current role. Steve has guest authored several columns in Barron\u2019s and made numerous live on Bloomberg TV and Radio, CNBC, Yahoo Finance, Fox Business, and several other media outlets in North America, Asia, Australia, and the Middle East in addition to being quoted frequently in print and electronic media. Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.\",\n\t            \"sameAs\": [\n\t                \"https:\\\/\\\/ibkr.com\"\n\t            ],\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/author\\\/steve-sosnick\\\/\"\n\t        }\n\t    ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Goldilocks or Kobe Bryant? | Traders' Insight","description":"The market\u2019s immediate reaction to Chairman Powell\u2019s press conference was exuberant, with 3% jumps in major US indices in the final 90 minutes of...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/137175\/","og_locale":"en_US","og_type":"article","og_title":"Goldilocks or Kobe Bryant? | IBKR Campus US","og_description":"The market\u2019s immediate reaction to Chairman Powell\u2019s press conference was exuberant, with 3% jumps in major US indices in the final 90 minutes of the day.","og_url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/goldilocks-or-kobe-bryant\/","og_site_name":"IBKR Campus US","article_published_time":"2022-05-05T16:22:00+00:00","article_modified_time":"2023-02-10T18:31:15+00:00","og_image":[{"width":900,"height":540,"url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2020\/01\/federal-reserve.jpg","type":"image\/jpeg"}],"author":"Steve Sosnick","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Steve Sosnick","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/goldilocks-or-kobe-bryant\/#article","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/goldilocks-or-kobe-bryant\/"},"author":{"name":"Steve Sosnick","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549"},"headline":"Goldilocks or Kobe Bryant?","datePublished":"2022-05-05T16:22:00+00:00","dateModified":"2023-02-10T18:31:15+00:00","mainEntityOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/goldilocks-or-kobe-bryant\/"},"wordCount":772,"publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/goldilocks-or-kobe-bryant\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2020\/01\/federal-reserve.jpg","keywords":["FOMC","NDX"],"articleSection":["IBKR Insights","Macro","North America","Region","Securities","Text Articles","Traders' Insight"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/goldilocks-or-kobe-bryant\/","url":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/goldilocks-or-kobe-bryant\/","name":"Goldilocks or Kobe Bryant? | IBKR Campus US","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/goldilocks-or-kobe-bryant\/#primaryimage"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/goldilocks-or-kobe-bryant\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2020\/01\/federal-reserve.jpg","datePublished":"2022-05-05T16:22:00+00:00","dateModified":"2023-02-10T18:31:15+00:00","description":"The market\u2019s immediate reaction to Chairman Powell\u2019s press conference was exuberant, with 3% jumps in major US indices in the final 90 minutes of the day.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ibkrcampus.com\/campus\/traders-insight\/goldilocks-or-kobe-bryant\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/goldilocks-or-kobe-bryant\/#primaryimage","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2020\/01\/federal-reserve.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2020\/01\/federal-reserve.jpg","width":900,"height":540,"caption":"Five Themes That Could Move Markets This Year"},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.com\/campus\/#website","url":"https:\/\/ibkrcampus.com\/campus\/","name":"IBKR Campus US","description":"Financial Education from Interactive Brokers","publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.com\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ibkrcampus.com\/campus\/#organization","name":"Interactive Brokers","alternateName":"IBKR","url":"https:\/\/ibkrcampus.com\/campus\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","width":669,"height":669,"caption":"Interactive Brokers"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/"},"publishingPrinciples":"https:\/\/www.interactivebrokers.com\/campus\/about-ibkr-campus\/","ethicsPolicy":"https:\/\/www.interactivebrokers.com\/campus\/cyber-security-notice\/"},{"@type":"Person","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549","name":"Steve Sosnick","description":"Steve is the Chief Strategist at Interactive Brokers. He has held numerous roles in the organization since joining Timber Hill, IBKR\u2019s predecessor, in 1995 as Equity Risk Manager and an options market maker. He developed and implemented automated trading strategies for stocks and options before moving into his current role. Steve has guest authored several columns in Barron\u2019s and made numerous live on Bloomberg TV and Radio, CNBC, Yahoo Finance, Fox Business, and several other media outlets in North America, Asia, Australia, and the Middle East in addition to being quoted frequently in print and electronic media. Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.","sameAs":["https:\/\/ibkr.com"],"url":"https:\/\/www.interactivebrokers.com\/campus\/author\/steve-sosnick\/"}]}},"jetpack_featured_media_url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2020\/01\/federal-reserve.jpg","_links":{"self":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/137175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/comments?post=137175"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/137175\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media\/32573"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media?parent=137175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/categories?post=137175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/tags?post=137175"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/contributors-categories?post=137175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}