What The Market Chose To Ignore In Yesterday’s Fed Announceent
by Tyler Durden
ZeroHedge.com
12/17/2015
Heading into the Fed’s first “dovish” rate hike in nearly a decade, the consensus was two-fold: as a result of relentless telegraphing of the Fed’s intentions, the hike is priced in, and it will be a “dovish” hike, with the Fed lowering its forecast for the number of hikes over the next year. Consensus was once again wrong on both accounts: first the rate hike was far more hawkish than most had expected (see previous post), and – judging by the surge in Asian, European stocks and US equity futures – the “market” simply is enamored with such hawkish hikes which will soon soak up trillions in liquidity from the financial system.
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