Forget The Fed: For JPMorgan This Is The Biggest Catalyst Heading Into 2017
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With the market certain the Fed will hike at 2pm today, there is little room for surprise. Furthermore, as Deutsche Bank previewed yesterday, no matter the Yellen spin, whether it is a "hawkish", "neutral", or "dovish" hike the market reaction is expected to be bullish...
... and as a result the market is already turning its attention to what the Fed will way about 2017, furthermore, with bond traders near record short positions, there is potential for a squeeze in rates after the announcement should Yellen err on the dovish side.