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A quick note: While other markets continue to plunge, US futures are actually still higher on the day.Not clear how long that can last, but at least there’s a little bit of green on the screen, which is refreshing.
Strike what we said above about US futures being up. The relentless pummelling in Europe this morning is proving too much.
Expect markets to be sorely disappointed if the Fed doesn’t act today.
The FOMC release is scheduled to come out at 2:15. There’s no press conference.
For a preview of the event, see here.