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Commerzbank Joins 6 Hike Club


Commerzbank has raised its forecast for Fed hikes in 2022 to 6 (25bp) raises, vs 4 previously.

  • With their forecast of core CPI rising 5.2% in 2022 (previously 4.9%), the Fed is set to hike at each meeting with the exception of June, at which the FOMC would "likely to decide initiating the run down its bond holdings instead of raising rates".
  • Note this Commerzbank forecast was published even before Friday's surprisingly strong nonfarm payrolls data.
  • MNI now counts at least 4 sell-side analysts looking for 150bp+ of Fed tightening in 2022 alone.

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