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5-3 BOE Vote Gives Sterling A Boost But Will It Last?
The Bank of England Monetary Policy Committee (BOE MPC) may have voted 5-3 to keep UK rates unchanged on Thursday but the decision by Ian McCafferty and Michael Saunders to join Kristin Forbes in voting for a UK rate hike on Thursday was undoubtedly a shock. The pound rallied, gilt yields rose and short sterling[…]
Dollar/yen: the Fed, Gotobi and xxx
Writing before Wednesday’s decision by the Fed to raise US rates by another 0.25 percent, US Bank BNYMellon wrote that “it is difficult to ignore the fact that the USD’s dismal performance year-to-date has coincided with a marked flattening of the US yield curve (at least as measured by the 2s/10s and spread – currently[…]
Heading Into The Fed
Wednesday’s rate decision and accompanying statement from the US Federal Reserve Open Market Committee (FOMC) will be the key focus for traders and has already attracted a plethora of commentary. A hike of 25 basis points is expected so, once that is delivered, it will be the tone of the statement and the Fed’s forecasts[…]