FOMC Minutes Less Hawkish Than Market Expected: BMO’s Kohli
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
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Aaron Kohli (Bank of Montreal)
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UUID: 7947283
(Bloomberg) -- Minutes of FOMC’s Sept. 19-20 meeting paint “a more mixed picture” than statement and lack of movement in 2018 dots did, BMO strategist Aaron Kohli writes in note.
- Overall tone of minutes “was less hawkish than the market may have been expecting,” and most curve spreads (2s10s, 5s30s) steepened slightly in response
- Until Fed’s worries about inflation appear to translate into delaying future hikes, “it’s not clear the market will price too much of this concern” into probabilities
- “We see some of this equivocating as simply keeping options for December open”
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
People
Aaron Kohli (Bank of Montreal)
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To modify this alert, click here
UUID: 7947283