Archive - Sep 18, 2015

• The bearish dovish Fed: Shares Fall After Federal Reserve Keeps Rates on Hold (WSJ)
• Developed, emerging markets diverge as Fed keeps rates steady (Reuters)
• Yellen May Emulate Taper Template and Raise Rates in December (BBG)
• Russia Raises Prospect of Sending Troops Into Combat in Syria (BBG)
• Rigged markets 1: U.S. Said to Investigate Chicago Trader as Spoof Probes Broaden (BBG)
• Rigged markets 2: Primary Dealers Rigged Treasury Auctions, Investor Lawsuit Says (BBG)
• Rigged markets 3: The Man Who Took KKR’s Stock for a Ride (WSJ)

What was one "one and done", just became "none and done" as the Fed will no longer hike in 2015 and will certainly think twice before hiking ahead of the presidential election in 2016. By then the inventory liquidation-driven recession will be upon the US and the Fed will be looking at either NIRP or QE4. Worse, the Fed just admitted it is as, if not more concerned, with the market than with the economy. Worst, suddenly the market no longer wants a... dovish Fed?