Don’t Trust the Fed Bounce

The bounce after the FOMC Statement was mechanical.

PRE-OPEN MARKET COMMENTS THURSDAY - Yesterday the Fed lowered their economic forecast for the year and they raised their inflation expectations. They said that uncertainty is elevated and they feel comfortable with their current policy. After a 10% correction in the last month, this will do little to instill confidence and Asset Managers will be in "risk off" mode.

Daily Bulletin Continues...