According to analysts at TD Securities, while the market has been calling the Fed’s bluff of late, Chair Powell has now folded his cards, placing the July meeting very much in play.
Key Quotes
“Market expectations are already discounting an aggressive profile for rates, but pricing will likely be contingent on this week’s meeting between President Trump and Xi at the G20 summit. While the highly anticipated meeting is likely to attract vase amounts of attention, traders should also keep an eye out for China’s official PMI data scheduled for release over the weekend.”
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