The Fed maintained monetary policy unchanged in the November meeting as widely anticipated. We still think the Fed’s rate hikes are already over. Powell underscored, that the tightening in financial conditions needs to be persistent to influence monetary policy, but also that policy is already restrictive. EUR/USD rose around 50 pips, while 10y US Treasuries […]
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Another quiet holiday week looms for financial markets. Manufacturing PMIs, including the US ISM, are the only highlight. But rising US yields and sliding yen may spark New Year’s fireworks. Manufacturing PMIs in the spotlight Read more…