Weekly Market Commentary 09/09/2016

With the data-dependent Fed scheduled to meet later this month, the hawks will find ample ammunition in recent reports to justify a rate increase. However, the doves will find their foraging efforts to be just as fruitful, as an equal number of data points supports the case for leaving rates unchanged. Simply put, we see the odds of a rate move at the September 20-21 policy meeting as somewhat of a tossup and the outcome could well be influenced by upcoming data on retail sales, production and consumer prices for August.