Dot Obsession And What’s Next For Stocks

Dot Obsession And What’s Next For Stocks

If you asked Nomura's Charlie McElligott ahead of the March FOMC, there was scope for the selloff in rates to persist irrespective of what the dots did (or didn't) reveal. The market's dot-obsession bordered on the absurd headed into the meeting. The dots arguably create an extremely unhealthy dynamic. Every three months, policymakers effectively tease the market by releasing a chart depicting individual guesstimates of the price of money years in advance. Sometimes, Fed officials will tacitly
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