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MNI Fed Preview - Nov 2023: Determining A High Yield Strategy

MNI Fed Preview - Nov 2023: Determining A High Yield Strategy

MNI Fed Preview - Nov 2023: Determining A High Yield Strategy

EXECUTIVE SUMMARY:

  • The FOMC will leave rates unchanged for the 2nd consecutive meeting on Nov 1.
  • While economic activity data has been strong and inflation progress has arguably stalled since the September meeting, the Committee will maintain a cautious approach as it assesses the impact of tighter financial conditions and the lagged effects of past tightening.
  • Powell’s press conference and the Statement will attempt to underpin market hike pricing which is broadly aligned with the Fed’s previously signaled path.
  • This will include maintaining a bias toward further tightening, though Powell has set a fairly high bar to further hikes.

Note to readers: MNI’s separate preview of sell-side analyst summaries to follow on Monday October 30

FOR THE FULL PUBLICATION PLEASE USE THE FOLLOWING LINK:

FedPrevNov2023.pdf







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