One of the traditional push backs against attempts to predict "black swan" events is that they are by default unpredictable, rendering the entire exercise moot. However, for the second year in a row, Nomura's Bilal Hafeez has found a loophole, or rather loop-animal: the grey swan.
Complacent: Contented to a fault; self-satisfied - The American Heritage Dictionary
Three weeks after the volatility-obsessed Deutsche Bank derivatives expert Aleksandar Kocic went so far as to not only qualify what he said was pervasive market complacency, but to also quantify it, and observe the exact moment when the market stopped caring and reacting to macro developments, some time in 2012...
... Canaccord Genuity's Brian Reynolds is out with a new report that takes conventional wisdom about prevailing market sentiment and flips it on its head.
The best, and so far most concise assessment of the FOMC statement comes from Stone McCarthy which points out the following:
Key Take-Aways: