Macro events have been big nothingburgers

Mid-week market update: The big macro events of this week hasn't really moved the needle on risk appetite. The market didn't react much to the Quarterly Refunding Announcement detailing the schedule of Treasury issuance. The JOLTS report showed slightly weaker than expected job openings, but quits and layoffs declined as well, indicating a general deceleration in the labour market. The FOMC decision came in slightly more dovish than expected, as the Fed reduced the rate of quantitative tightening a little more than expected. This should reduce any headwind that equities may face from a reduction in banking system liquidity. 

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