Morning Note | February 1, 2023 | Fed Day and CEF Distribution Announcement Day

Good Fed Day!

Markets are pointing to a slightly lower open going into the FOMC meeting.   Pre-mkt there is weakness in Tech, pressured by SNAP -15%. Bond yields/USD are lower and commodities are selling off across the board. The S&P 500 finished Jan +6.2%, its best start to the year since 2019.

The market consensus is for a 25 bps hike but there are mixe…