RenMac Off-Script: Popping Bullard’s Balloon

The RenMac team discusses Bullard’s balloon, Fed’s likely three 50 bps hike pace, recession probability declining in face of economic momentum, parallels to 94 and 04, gap downs more prevalent in downtrends, pickup in defensive areas, Schumer dashes marijuana enthusiasts Hight hopes, and Congress retuning to a crowded calendar.