Today…
Market-implied rate hike odds for tomorrow are low… (but Dec has picked up)
It's probably nothing…
They bought everything… Bonds up, Stocks up, Gold up, Oil up, and Dollar up.
Standard pre-Fed buying spree in stocks – but it wasn't convincing… (Small Caps pulled back from yesterday's squeeze) – with a big dump into the close…
On the week, today was a repeat of yesterday with Nasdaq dropping into the red…
Once again 16 was the cap for VIX but despite best efforts, VIX increased into the close…
Notably we are seeing a deja vu in OBV -= the last time The Fed hiked…
Treasury yields fell on the day – though notably bonds were sold in the afternoon back into yesterday's tight range after running stops either way…
FX markets were also oddly quiet with the USD Index drifting higher – but JPY flat…
Let's hope BoJ doesn't disappoint…
Oil followed a similar pattern to yesterday with a surge into othe NYMEX close (and contract roll), PMs remain green on the week…
Charts: Bloomberg
Bonus Chart: Tobira or Tobira Not…
Bonus Bonus Chart: We do note that asset markets are decoupling from blobal central bank balance sheet growth…
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