HALISTER1: Fed Needs to Move Market If It’s Going to Hike: TD’s Misra

Fed Needs to Move Market If It’s Going to Hike: TD’s Misra

(Bloomberg) -- Fed is unlikely to raise rates on Sept. 21 if market at that time is pricing in only 30% odds of a move, TD strategist Priya Misra said in written response to questions.
  • Market-implied odds of a Sept. hike declined to 32% today after Aug. jobs data was weaker than forecast; however, Goldman Sachs put odds at 55%, and Barclays and BNP Paribas economists also say jobs data support raising rates this month
  • “I would not be surprised to see some Fedspeak addressing this report in coming days. If the Fed is inclined to hike, they need to move the market probability higher,” which would have to be done before self-imposed blackout begins on Sept. 13
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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Priya Misra (TD Securities USA LLC)

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