Goldman's Delta-One Head Lays Out The Bullish and Bearish Cases In Today's Fed Decision

Equities continue to be very choppy ahead of today's Fed decision, where the market is braced for a hawkish cut although as BofA's Michael Hartnett explained a dovish cut may be a bigger risk for bonds, and thus stocks, to wit: "only thing that can stop Santa Claus rally is “dovish” Fed cut causing a sell-off in long-end."