A Fed Hike Will Send Treasury Yields Higher Right? Not So Fast

Good hike, bad hike. That's the game we're playing on Wednesday and really, it's more of a question. That is: is a hike good (in the sense that it confirms the Fed's faith in the reflation narrative)?, or is a hike bad (in the sense that it will tighten financial conditions, possibly undercutting the equity rally, pressuring the dollar higher, and weighing on a recently beleaguered commodities complex)? Good questions, both. One thing to note is that with rate differentials already wide thank