The outlook for US equities (and therefore for global equities, we presume) is now closely tied to investor expectations regarding what's going to happen to...

The outlook for US equities (and therefore for global equities, we presume) is now closely tied to investor expectations regarding what's going to happen to the Fed Funds rate and, by association, to US bond yields. At present, both bond and equity markets have assumed a rather benign outlook, counting on the fact that the FOMC under Yellen will act cautiously, gradual and possibly terribly slow (glacial) as to not interrupt and certainly not reverse the uptrend for equities. It's probably a fair assumption that such benign expectations will raise a lot of questions and they are prone to divide market opinions and views. Is it really going to be that smoothly? Is inflation really not going to rear its head? Will the FOMC definitely stay its current course? In case of failure, both equities and bonds stand to suffer, and gold too. My Weekly Insights: (VIEW LINK)