Market Commentary: Does the Setup Suggest a Reagan-Style Post Inauguration Selloff? (video)

The one thing I failed to mention in today’s commentary was tomorrow’s Fed rate decision. That would be because there’s virtually no ambiguity in the market in terms of what’s to occur — which is a quarter-point rate increase. Of course, in the short-term, we tend to wonder what could come out of left field and catch markets unaware. In terms of the Fed that would be either no change in rates or a half-point increase. Neither of which is likely in my view. Aside from that, the prepared statement and Janet Yellen’s press conference will be in focus. Anything too dovish (soft) on interest rates, or too hawkish, will indeed reflect in post-meeting trading. In which case I’ll offer my thoughts tomorrow afternoon…

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