It has been roughly two weeks since the Fed did its best to jawbone the market down by hinting at a rate hike on the horizon. It also mentioned that committee members were “talking about talking about tapering.” The market reacted by selling commodities and buying dollars. There was also what appeared to be a rotation back from value into growth, prompting some commentators to call an end to the reflation trade. Oil Oil was perhaps the biggest outlier, the content of the meeting barely able to budge it from its highs. It has since pushed even higher, rallying by around 4% in the following week to challenge its 2018 ... (full story)