Yesterday, in an amusing interlude, Deutsche Bank's Torsten Slok "explained" how stocks would react to any particular wording of the Fed rate hike.
Musing somehwat cynically, we said "this time is different", or maybe it's just 1929 all over again, because according to Deutsche Bank, after 8 years of easing sent the S&P to all time highs, the only thing that is more bullish than a dovish Fed, is a Hawkish one, and as a result no matter what the Fed does tomorrow, and how it hikes rates, equities can only go "higher."
Indeed, as the table below showed, there was no possibility for stocks to drop.
And cue the biggest selloff since the election.
If anyone is still confused why Wall Street "experts" (in addition to political polls) have zero credibility, show them this chart.