FOMC hawkish vol peaks: No cuts to 2028 S&P 7200 ATH trap
Key Questions
What was the FOMC's stance?
FOMC voted 8-4 for no cuts until 2028, possibly a hike, with Powell citing GDP 2%, PCE 3.2% sticky, and low claims at 189k. This sparked hawkish vol peaks.
How did markets react to FOMC?
S&P broke 7200 ATH first time but in a chop trap, OVX 4x VIX gaps, semis resilient amid earnings dispersion, VIX ~17.
What other central banks acted?
BoE and ECB held rates steady as S&P 500 broke 7200. This aligned with hawkish FOMC tone.
What is the status of this highlight?
The highlight is developing, with hawkish vol peaks and S&P 7200 ATH trap.
What hedges were suggested?
ES7200 hedges amid thin liq ORBs, given the rotation and volatility.
Hawkish 8-4 no cuts to2028/poss hike Powell GDP2%/PCE3.2% sticky low claims 189k spark S&P 7200 first break chop OVX4xVIX gaps semis resilient earnings dispersion VIX~17 thin liq ORBs/ES7200 hedges BoE/ECB hold.
Sources (5)
Updated May 1, 2026