Daily Wrap – The Day After SKEW At A Record High

It’s funny how many economists missed the 50 bp rate cut yesterday – 105 of 114, as surveyed by Bloomberg were wrong. I watch the Fed Funds market-based probabilities in near real-time, but I also know (as do you) who the Fed leaker is (WSJ’s, Nick Timiraos). It’s kind of comical to read how many…