Mike’s Morning Brief – September 21, 2016

Mike’s Morning Brief: A fast-break rundown of what’s going on.

Market opened higher, attempting another lift despite 2 consecutive days of early gains that were wiped out by the close.  Central banks are the theme.  The Bank of Japan announced a new plan for QE, which is driving stocks higher overseas.  For the US, it’s all about the Fed.  Will they or won’t they raise rates?  The conventional wisdom is no, not at this meeting.  The Market is not ready if they do.  We will find out at 11a our time.  The 10-Year Treasury yield is flat, just below 1.7%.  The 2-Year Treasury, most influenced by the Fed Funds rate, is ticking up a bit back above 80 bps ahead of the meeting.  The 30-Year Treasury yield isn’t budging at 2.43%.  Crude and Gold are catching a bid in early trading.  The Dollar is stronger too, particularly against the Japanese Yen.  Keep those belts buckled.

Have a great day,

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