Hark the Harker

Statements from the FOMC have been eclipsed of late by more eagerly received comments on the US from Trump and Mnuchin. Last night Patrick Harker, a voter on the FOMC from the Philadelphia Fed, commented to journalists that he thought a March rate rise was on the table. Although we already know him as a hawk, he did manage to move markets. The CME FedWatch tool likelihood of no March rate rise shifted down from 91% to 86%, reflected also in the 2yr bond yield reversing earlier weakness. The USD also began a modest tear upwards. Not a lot, but not bad either…

This content is for Free Trial and Subscriber members only.
Log In Register

Comments are closed, but trackbacks and pingbacks are open.