FYI: Bespoke's "Countdown To Liftoff" indicator was introduced yesterday. After economic data this morning (including a massive Michigan Consumer Confidence print), the dollar has rallied sharply and interest rates have moved higher. As a result, our new calculation shows a Fed hike in the month of November instead of the month of December. In practice, we expect the Fed to announce a rate hike at a meeting with a press conference, so that means the market is on balance expecting a hike in either September or December, with a more likely outcome being December.
Regards,
Ted
http://www.bespokeinvest.com/thinkbig/2015/1/16/countdown-to-liftoff-ticks-lower.html?printerFriendly=true
