CHART OF THE DAY: Remember What Happened When The Fed Hiked In December? We Do.

Editor's Note: Below is a brief excerpt and chart from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more.

"... If the Fed RAISES RATES (June) into this slow-down, they’ll be the catalyst for DEFLATION (down yields) again anyway.

 

That last part is the part Consensus Macro got smoked by when they bought the Financials (XLF) and shorted “expensive” Utilities (XLU) in December 2015 on the DEC Rate Hike. The Fed drives the Dollar; the Dollar doesn’t drive the Fed."

CHART OF THE DAY: Remember What Happened When The Fed Hiked In December? We Do. - 05.19.16 EL Chart