Mike Zigmont, author of the Zigmont Report, is a partner at New York-based Harvest Volatility Management, a hedge fund with over $10B AUM, offering volatility management solutions to its investor base worldwide. Mike has been publishing his daily newsletter (Monday-Friday) privately for the firm’s investors and his personal contacts in the investment business since 2008, sending it daily shortly after the market close.
The opinions expressed below are my own
There’s little else to say. The world isn’t significantly different than last Friday. Headlines have been immaterial. And with the news vacuum, the market drifts higher.
Quiet has been an ally of the bulls for a few years. Quiet hit a snag earlier this year. It looks like quiet is back and investors are deriving confidence from it.
Prediction: it’ll continue until we get a shocker of a news item.
The big *anticipated* event next week is the FOMC decision on Wednesday. Fed Funds futures are predicting an 86% of a 25 bip hike and a 14% chance of a 50 bip hike.
So the market expects a hike. The unknown is how hawkish the language will be.
Have a great weekend, see you Monday,