We still say no rate hike. If there is one, at least this time it won’t fly in the face of recession.
Here’s a riddle. What do you call the European Union without the UK? Germany.
"We don't believe it will happen," Don Luskin, chief investment officer at TrendMacro, told clients in a note titled "Is the Fed Stuck On Stupid?"
Adds Luskin: "We still think no hike until December, and probably not even then. There's not good reason for it , and lots of good reasons against it."
No good reasons to hike, and lots not to. It won’t happen. If it does, markets will unravel.