Analysts at Credit Suisse said that US......>

US VIEW: Analysts at Credit Suisse said that US Pres. Trump's "Fed nomination of

Marvin Goodfriend adds to the already hawkish turn in next year's FOMC

composition. More significant, though, are Goodfriend's out-of-consensus views

on Fed policy more generally."

- They added that "should further nominees also hold unorthodox views,

especially in light of an increased focus on re-evaluating the Fed's policy

framework, we think markets may begin to price a larger range of potential

outcomes. While we don't expect significant changes to the framework in the near

term, we do expect upward pressure on current terminal rate assumptions, and

recommend EDH8/H9 steepeners to position for a reassessment of the terminal

rate."