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The 3 Wise Men Spoke

May 18, 2016

Today we heard from Fed’s Williams and Lockhart discussing the economy at Politico Event & Fed’s Kaplan in a moderated Q&A at Petroleum Club. The talk was 2 - 3 rate hikes as still possible this year with more to come next year. We also got higher than expected month over month CPI this morning, which is inflationary. My caution for you tonight is that the Feds Meeting Minutes will be released tomorrow at 1pm CST. I believe the market will be looking for this specific language and whether or not there are such concerns. If so, you buy Gold, sell Treasuries, and revisit the Indices next week. Reminder that the ES opened this year at 2037.75 and we traded that level again today. Two words, Garbage Trade