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JPM's Fed Day Scenario Analysis: Market Could Have Best Day In History, Or Crash 5%

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by Tyler Durden
Wednesday, Sep 21, 2022 - 03:40 PM

Last night we published a lengthy FOMC preview; today we follow up with a market reaction cheat sheet as well as several follow on thoughts.

First, a few big-picture notes, starting with consensus forecast where 94 of 96 economists see a 75bps rate hike (notably, Nomura remains an outlier for a 2nd consecutive month, expecting 100bps).

A short and sweet, high-level preview of what to expect today comes from Goldman's head of rates trading Josh Schiffrin who writes that "today will be brief and to the point":