The exclusive Markets Morning Report is supplied by The Precision Report.
The Precise Take – FOMC disappoints
Big Picture Analysis – The markets seem to have run (south) over the last few days with the notion that the Fed will not commence another LSAP in the near future. While this may or may not be the case, we see it as a non-starter, inasmuch as money supply, loan and credit growth remain elevated and should put a floor underneath any correction, keeping the long term bull market intact. Today, there are no economic releases of note after the bell, but we could see some squaring ahead of the quasi-three day weekend, especially since the monthly Employment Situation will be released tomorrow while equities are closed in the US and Europe.
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