Consensus Looks Likely To Shift Toward A Dec Taper Acceleration View

Regarding Goldman Sachs' more aggressive Fed taper pace/rate hike call (see 0621ET/1121GMT bullet), an acceleration in the taper pace is probably going to become increasingly the analysts' consensus in the lead-up to the December FOMC.

• Goldman's change in outlook was prompted by several FOMC participants saying they are open to an accelerated taper pace. Late last week, Goldman wrote late last week "we think the hurdle to accelerating the pace is high" - it turns out the bar is lower than they thought.
• As we pointed out yesterday ("SF Daly Points To Relatively Low Bar For Taper Speed-Up"), SF Pres Daly's surprisingly hawkish comments yesterday suggest that it looks increasingly likely we'll get a taper speed-up announcement in December, if we see something like 500k jobs and a continued elevation in CPI readings in the next payroll/inflation reports, respectively.