Waiting For The FED
I came into the weekend and this morning believing that the damage to the stock and bond markets last week would carry over to today unless the FED modified it’s hawkishness. It seems that they used some of their usual media and Wall Street insiders to leak that today’s meeting would lead to some moves along those lines. Apparently, that was enough to trigger today’s massive rally across all markets. The FED is unlikely to announce whatever tweaks or adjustments that are coming, until they need to. They are likely to save their ammo(the actual announcement) until probably after the markets giveback a chunk of their gains, maybe after tomorrow(typical counter trend Tuesday?) If things get sloppy later this week they should play their card to ignite a second leg up. How much higher and how fast, will depend on what they actually say and do.