Stock futures declined on Sunday evening, falling victim to four macro risks without the safety of earnings, which faced a stretch of no quarterly corporate profit reports. First, traders were putting odds of 86% that Kevin Warsh would risk the wrath of President Trump and deliver a rate increase ahead of the Fed’s interest rate decision, fearing that it could be the start of a long cycle rather than a pump of the brakes: Fed funds futures were implying two rate hikes of 25 basis points each over the next six months, with four of them over the next twelve….
A Macro Market View by Hubert Marleau
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