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…
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