With 15 days left until the day that will live in monetary policy infamy [4], it appears investors are beginning to lose faith...
Following today's ISM/PMI data collapse (and everything else recently), the odds of a December rate-hike have plunged most since the October FOMC meeting...
[5]
Perhaps this is why?
[6]
As we noted previously, here we are in the lull just as we were before that Sept. meeting, And what is happening this time? Well, don’t look now, but there indeed looks to be trouble brewing on the global stage (or should I say “international developments”) that could turn out to be just as big of a headache to the Fed’s reasoning’s on whether or not to “just do it.” Just one of those issues is – once again: China.
[7]
How long before Christine Lagarde raises some doubts? Again! And crushes The Fed's credibility once and for all.
One thing is sure - despite Stan Fischer's exclamation that The Fed will not surprise 'the market'; given the massive short posiitioning...
[8]
The Fed better not let them down - The last time the world was this short Treasuries, the 10Y yield collapsed from 3.94% to 2.39% in just 3 months.
