Tonight is a make or break moment. Will Powell maintains its independence, rise rates, and call for more rate hikes in 2019 to fight inflation, that will be BAD !!! (2) hike and says he will pause with respect to data, that will be good of course … or (3) postpones its hike, then the S&P500 could rise as high as 2666, but then traders could question the seriousness of the economic deceleration !!!
We decide to close one of our US shorts as our convexity exposures have reduced our net long  exposure and in terms of P&L make all our trades more profitable in case of a conrinued sell-off.