Cutting The Left-Tail

Evercore's Ed Hyman gets it. "If they don't do 50 tomorrow I’ll be shocked," Hyman, a perennial Institutional Investor poll winner, told Bloomberg TV on Tuesday. I'd be shocked too. I'm going to be completely honest with you: As of noon on September 17, the odds of a half-point first rate cut from the Fed at the September meeting were basically 100%. Anything can happen, of course. And I've been wrong before. But the writing on the wall was billboard-tall by Tuesday afternoon in the US, as R