Almost EVERY major institution is pricing in a Fed hike next week.
I'm still fading that trade. Here's why rates stay put:
• Trump's been screaming at Powell to cut, not hike — now he's got Kevin Warsh in the mix
• Midterms in November — zero political appetite for a hawkish surprise
The consensus is loud. I think it's wrong. Positioning for no hike.
I'm still fading that trade. Here's why rates stay put:
• Trump's been screaming at Powell to cut, not hike — now he's got Kevin Warsh in the mix
• Midterms in November — zero political appetite for a hawkish surprise
The consensus is loud. I think it's wrong. Positioning for no hike.
