Since the last FOMC meeting on Dec 10th (which resulted in a more-dovish-than-expected 25bps rate cut along with 3 dissents), precious metals have been the biggest gainers (as the dollar weakened) while crude oil has been a laggard. Stocks small bid, bonds unch... {chart} Crypto has notably decoupled from gold and stocks... {chart} Rate-cut odds have risen significantly, most notably March... {chart} With a very divided Fed having been exposed (the most dissents in 37 years), the outlook is unclear, but the demanding markets are not... “I joke that the equity market is like a kid in a candy store, braving a sugar ... (full story)