US equities were clearly under pressure from further weakness in oil.
Just consider this for a moment though... whilst WTIC oil has fallen from the $55s to the $47s, equities are barely 2% from a recent historic high of sp'2400. What do the equity bears think is going to happen to equities when oil begins another up wave?
A third rate hike
sp'500 and int' rates,
We should see the FOMC announce (2pm tomorrow) the first rate hike of the year, of 25bps to a new target range of 0.75-1.00%. This will make for the third hike since ZIRP concluded in Dec'2015.
I realise some of you still think higher rates are a bad thing.. and I can only suggest you go stare at the above chart for a few hours. Or perhaps...
|Brewster doesn't want 24% interest on his $30 million|
Goodnight from London