The exclusive Markets Morning Report is supplied by The Precision Report.
The Precise Take – Hopes of Santa rally fading
Big Picture Analysis: Yesterday’s FOMC announcement was nearly a carbon copy of the prior, which disappointed traders looking for further hints of a new purchase program. Today is news-lite, with the petroleum report at 10:30 am EST and the 30 Year T-Bond auction at 1:00 pm. Notably, yesterday’s 10 Year was nearly a record in terms of demand, indicating continued risk aversion. More the market movers are tomorrow’s Jobless Claims and PPI pre-market, followed by the Philadelphia Fed Survey at 10:00 am, then CPI on Friday along with options expiration.
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