QCP Market Update
Tomorrow’s FOMC: 4 things on our mind
- Tomorrow's FOMC is priced at an 80% chance of a 25bp hike. The consensus has shifted to what we posted last week, that no hike, or worse, a surprise cut, will ironically signal more panic for markets.
- This FOMC is crucial for markets as a pivot - BTC and Gold rallied exponentially partly because of the large Fed liquidity injection, but more so because of the lack of resolve amongst Fed policy makers. Having already designated SVB as not-too-big-to-fail, and agreeing on a cap of $250k for deposit insurance, at the first sign of trouble they did a complete 180 degree turn and...