Daily Morning Call

From the Floor: Fed hike is priced in but markets still on edge

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December 14, 2016
The dollar is broadly weaker ahead of today's crunch FOMC meeting and what is expected to be the second US interest rate hike this year and only the second such move in a decade.
● The market is very uncertain about what the Fed is going to say today – Hardy
● I think the Fed will probably default to saying as little as possible – Hardy
● The Fed will likely lean to a neutral stance though data's improved – Garnry
● Gin equities, global financials will be the big winner in 2017 – Garnry
● The IEA sees a supply deficit in H1 if no output-cuts cheating is seen – Hansen
● Gold is moving sideways and needs a lower dollar and real yields – Hansen