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For each of the next 12 trading days, CNBC Pro will highlight a single strategy that should work if the Federal Reserve hikes interest rates on Dec. 16, as many on Wall Street expect. We found these trades using Kensho, a powerful tool used by hedge funds to analyze historical market data.
In the holiday spirit, we will call this series the "Twelve Days of Fedmas."
And so it begins:
On the first day of Fedmas,
Janet Yellen sent to me:
A pair trade in Curr-en-cies!
If the Fed does raise rates, that will make the U.S. one of the few countries in the world with a tightening monetary policy.
So if this rate hike sparks an increase in long-term Treasury yields, which currency pairs will perform best over the subsequent one month of trading?
Using Kensho, we looked at all the one-month periods of significant moves higher in rates over the last decade...