FOMC Not Likely to Hike Rates in Sept. Amid Weakness, UBS Says
Source: BFW (Bloomberg First Word)
People
Drew Matus (UBS Asset Management Japan Ltd)
Samuel Coffin (UBS Global Asset Management Japan Ltd)
David Liang (UBS Securities LLC)
Eric Rosengren (Federal Reserve Bank of Boston)
John Williams (Federal Reserve Bank of San Francisco/CA)
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UUID: 7947283
(Bloomberg) -- Given ISM data and some slowing in bank lending, “it would seem unlikely the Fed would feel that they could move forward into weakness,” UBS economists Drew Matus, Samuel Coffin, Dave Liang write in note.
Alert: HALISTER1- December remains base case for timing of next rate increase
- If Fed does act in September, “it would be prudent” to price in updated dot plot, as odds of two rate moves this yr “would likely be significantly higher”
- Citing recent speeches by SF Fed Pres. John Williams and Boston Fed Pres. Eric Rosengren, economists write: “We have been down this path of setting the stage for a hike only to see a late shift in response to tepid data”
Source: BFW (Bloomberg First Word)
People
Drew Matus (UBS Asset Management Japan Ltd)
Samuel Coffin (UBS Global Asset Management Japan Ltd)
David Liang (UBS Securities LLC)
Eric Rosengren (Federal Reserve Bank of Boston)
John Williams (Federal Reserve Bank of San Francisco/CA)
To de-activate this alert, click here
UUID: 7947283