We see the Fed announcement in 5 minutes and for once in a great while this one has a potential to move markets.
Equities have been quiet all morning with the 10 year treasury up 1 basis point. ‘Tension on the tape’ as we would say in the old days.
Nothing I will do no matter what the announcement–but it should be interesting just the same.
If we get 3 rate increases next year, maybe we will see investment grade preferred cross 5% again.
A computer could do it better.
“When da number is here it automatically adjustes, down or not. ” It would already be over. We could even do it by points! , floating!!, Oh my!!!
We are still living in the old world with lords in powdered wigs and vassals with dung covered boots.
Double taper is exactly what I expected. As for the instant jump up in the markets I expect that to fade back to red. Not sure why people are suddenly excited to buy so it must have been algos. So at this rate of taper not much will happen for the next couple of months.
Up up S&P goes