The Zigmont Report (Daily Market Recap for 11/22/17)

Mike Zigmont

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

Pass the gravy.  Today was slow and investors simply went through the motions.  Capital flow was very light at 84% and the tape barely moved.  The only news, if you can call it that, was the release of the Fed minutes.  They show that the Fed will probably hike in December.  This isn’t surprising and Fed Funds futures continue to price a 92% probability of a 25 bip hike on December 13th.

US markets are closed for Thanksgiving tomorrow and the stock market closes early (1 PM ET) on Friday.  Things *should* be completely boring but overseas markets are officially in the driver’s seat for the rest of the week so it’s up to them to keep the peace.

I’ll see you Friday.

Happy Thanksgiving!