⏳ Final hours! Save up to 60% OFF InvestingProCLAIM SALE

Dudley puts four hikes on the table

Published 03/01/2018, 12:34 PM
© Reuters.  Dudley puts four hikes on the table
US500
-
DIA
-
SPY
-
QQQ
-
  • "Gradual" has been the Fed's favored word to describe the current tightening cycle, and it's thought to be code for three rate hikes in 2018.
  • Enter FRBNY President Bill Dudley. Taking questions following a speech in Brazil, he says four hikes this year would also fit into the "gradual" description.
  • Dudley is retiring from the Fed this year, so there's that. His comments also come as Fed Chairman Jay Powell is testifying to the Senate about the economic and monetary outlook. One wonders how Powell feels about an outgoing Fed member trying to box him in (or did Powell give the green light for the boosted hawkishness).
  • Stocks have turned noticeably lower since the comments, with the S&P 500 (NYSEARCA:SPY), Nasdaq (NASDAQ:QQQ), and DJIA (NYSEARCA:DIA) all down about 0.6%.
  • The 10-year Treasury yield remains modestly lower on the session.
  • Now read: Equity Multiples And Rates: Are We Still Getting Paid?


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.