Fed-Day. A Dovish Tone Is Expected

The market has rallied 10% in the last week. Credit concerns are elevated and the Fed needs to ease fear.

PRE-OPEN MARKET COMMENTS WEDNESDAY – All eyes are on the Fed. Recent bank failures caught the attention of the Fed and the market is expecting dovish comments. A 25 basis point rate hike is priced in and that is down from the 50 basis point hike that was priced in two weeks ago. The market has rallied almost 10% in the last week and some analysts are expecting to hear the word “pause” today.

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