Welcome to the DC Today, your daily market synopsis of the Dividing Cafe, brought to you every Monday through Thursday to bring you up-to-date information and perspective on financial markets.

Hello, welcome to D.C. today. It's Tuesday, March 19th. Great to be with you here on this generally pretty positive trading day,

actually, which is a little uncharacteristic because tomorrow will conclude the two-day

Federal Reserve meeting and they'll set their policy and then talk about, you know, forward

guidance. And I think what the market will be expecting tomorrow is that obviously it's a,

it's a hundred percent chance on Fed futures that they're going to keep rates the same.

So that part is to be expected.

But it'll depend on what they talk about, what the tone of, of, of, of, of, of, of, of, of, of, of, of, of, of, of, and then if the dot plots, if what they're expecting

before the end of the year on rates, changes from three reductions of 25 basis points

to maybe two.

And again, both the PPI data, the CPI data and the PCE data we got for last month was above

what was expected.

Again, it's not overly bothersome to me.

I still think they're getting to where they need to go.

It just isn't happening in a straight line.

And I think that they're well aware of that.

But that's the big news for tomorrow. But other than that, the day just sort of to melt higher. And so just when I started typing that we were going to have a mixed bag in markets, we ended up having a fairly positive day across the board. The S&P, NASDAQ, Dow, were all up. And the bond market was also up. Bond prices rallied.

And so you got a 10-year yield that dropped about three basis points, closed at 429.

Still in that same range I've spoken about, which is about 410 to 435.

So we'll see tomorrow.

There's definitely news enough with the Fed where rates could pop higher,

depending on what they say. So we'll stay tuned there. Other big news on the day was the

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