Today at 2pm ET, the FOMC will publish its rate decision; there will be no surprises as a 25bps hike to 1.75%-2.00% is 100% priced in. Where the market still has questions is about the shape of the "dots."
Following yesterday's rate spike-driven market rout, S&P futures have steadied alongside European stocks as global markets stabilized thanks to an easing in the bond selloff, leading to speculation that the worst may be over.
As DB's Jim Reid says this morning, "Welcome to Friday 13th. As everything is so calm and stable in the world at the moment what could possibly go wrong today?" As of this moment, not much judging by the solid bid in overnight markets.