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Analysts, Market Pricing Increasingly Eye 75bp September Hike

ECB

BofA, Credit Suisse, Goldman, and Nordea (and potentially others?) have upped their calls today for next week's ECB meeting, and are now looking for a 75bp hike.

  • Futures haven't fully priced in a 3/4 point raise. The market is pricing 66-67bp (high of 68bp today) for September, with around 124bp through the October ECB (high of 125bp today).
  • Pre-Jackson Hole last Thursday, pricing was for 96bp in cumulative Sep plus Oct hikes, with 55bp priced for September alone.

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