3/3 I explained this on Bloomberg TV this morning Jonathan Ferro Lisa Abramowicz Michael McKee

2/3 If the market is pricing in a hike in late October and the Fed defies it by NOT hiking, remember this chart. For two years, the Fed (orange) was easy, and the market (blue) kept rejecting it by pushing long-term yields higher. This could repeat in late October.

1/3 There's a narrative that the Fed can't hike on October 28 because it's the week before the midterms. Somebody should tell the market because it's pricing the probability of an October 28 hike at 60%, and it is rising.

@BloombergTV @FerroTV @lisaabramowicz1 @mckonomy me waiting for the bond market to crush stocks

@BloombergTV @FerroTV @lisaabramowicz1 @mckonomy TV was the right call for the full version. Headline here would've saved me the click though.