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'Hated' Rally of 2019 Faces Crucial FOMC Meeting Week

- Probabilities favor an equity rally post FOMC rate cut

- Defensive sectors outperform in first three months after non-recessionary cut

- USD headwind for stocks to fade with cut

As just about anyone who isn’t living under a rock expects, the U.S. Federal Reserve Board is set to cut the Fed funds rate next Wednesday (for more on this see page 6). My anecdotal sense in talking with clients is that they are focusing on the last two rate cycles (2001 and 2007) and therefore see these cuts as both ...

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