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MS: Adding An Extra 25bp Hike For May But Keep Existing Cuts Call

US OUTLOOK/OPINION
HomepageCommoditiesBulletMarketsFixed Income NewsForeign Exchange NewsFOMC Calendar Market NewsMorgan Stanley Market News
  • Morgan Stanley now add a 25bp hike for the May meeting to a peak 5-5.25% having after payrolls on Friday added a 25bp rate hike at the March meeting.
  • They maintain calling the first 25bp rate cut in December this year, followed by 200bp of additional easing through end-2024 to 2.75%-3.00%.
  • Chair Powell struck a more hawkish tone compared to his pre-payrolls Q&A, indicating there was "significant road ahead" before policymakers could be comfortable with inflation returning to the 2% target, reaffirming a Fed Funds peak between 5-5.25%.
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  • Morgan Stanley now add a 25bp hike for the May meeting to a peak 5-5.25% having after payrolls on Friday added a 25bp rate hike at the March meeting.
  • They maintain calling the first 25bp rate cut in December this year, followed by 200bp of additional easing through end-2024 to 2.75%-3.00%.
  • Chair Powell struck a more hawkish tone compared to his pre-payrolls Q&A, indicating there was "significant road ahead" before policymakers could be comfortable with inflation returning to the 2% target, reaffirming a Fed Funds peak between 5-5.25%.