I don’t want to rain on anyone’s parade, but tomorrow’s FOMC meeting is most probably going to be the least volatile, biggest non-event of all time. I mean lets be honest, markets and traders have been speaking about, and planning for this Christmas present for what, 5 years now? Futures contracts have priced in a whopping 78% likelihood that Yellen and friends in the Federal Reserve will raise their short term interest rate from near zero levels to 0.25%, while also pricing in a further 2 during 2016 to take the Fed Funds Effective Rate to 0.75 this time next year. History of course is on the side of the contrarian, ... (full story)