Good morning, Today will be a marathon for me… I’ll be on air from 1 pm to 4 pm on TheoTrade, covering the Federal Reserve decision and what comes with it. If you don’t know what the Federal Reserve is… or you think you know what the Federal Reserve is (but you might be wrong)… I’m live at 8:45 am ET as always. We’re going to cover the whole thing today… The most important briefing of the year… If you have questions or haven’t seen this show in the morning, stop by. It’s free… it’s something… Live link is here. We’ll be ready with trade ideas. The odds of a rate cut, according to the CME, are about 87%. Again, I’m not overly addicted to Fed rate action like the rest of our media pundits. It’s important because it’s important to everyone else - but the real news in the post-2008 world is what’s happening with the Secured Overnight Financing Rate… Heck, as the Financial Times points out, more and more people want the Fed to abandon the Funds rate and ensure that SOFR operates “more stably”… But it would also expose the reality of our system… that it’s dominated by leverage… it is a true house of cards.’ Let’s get to this morning’s momentum focus…... Continue reading this post for free in the Substack app
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