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Steve Grasso, director of institutional sales at Grasso Global, points out that the nine Federal Reserve projections for a rate hike were made before several key geopolitical developments, including the Iran peace deal on June 15 and the reopening of Hormuz.
Grasso highlights that these forecasts did not account for the resolution of the conflict driving much of the inflation shock. He adds that the aggressive spike in the 2-year yield was based on data and expectations that had already become obsolete.
Grasso recently noted that SPCX surpassed $175, triggering an early unlock with major indexes expected to buy shares within 30 days, according to a previous update. He also confirmed a slightly positive position in SOUN and provided a brief update on his holdings in a separate report. The recent comments continue his regular market observations.