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Steeper for longer, what is the Fed hinting at?

Sumary of Steeper for longer, what is the Fed hinting at?:

  • The path of least resistance is still for a steeper Treasury yield curve The dot plots yesterday were less hawkish than anticipated, with no median rate hike penciled in for 2023 and that saw Treasury yields fall – with the short-end of the curve in particular seeing yields decline more rapidly than the long-end i.e…
  • Powell didn’t really outline any uncomfortable feelings on the latest bond market developments, so the key takeaway is that things are likely to follow the theme of ‘steeper for longer’ until the Fed provides more clarity on when it may hike rates…….

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