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/PREVIEW: Multiple dealer opinions on..........>

FOMC: /PREVIEW: Multiple dealer opinions on today's FOMC annc, .25bps
universally expected, most with an additional hike in December; particular attn
to forwad guidance and addition of 2021 dot in SEP today.
- TD Securities: Set to hike today w/total of four exp for 2018. "Later dots
will show most support hiking beyond neutral, while median longer-run dot could
drift down to 2.75% thanks to newly-added participants. This risks modifying the
statement language to suggest "policy remains somewhat accommodative." Risks
should remain balanced, with Chair Powell downplaying some of the downside risks
that have preoccupied markets of late."
- SocGen: Expects FOMC annc 25bps hike today, particular attn to forward
guidance. "In our view, the dot plot will continue to project another hike in
December, three more next year, one in 2020, and it will add one in 2021. We
anticipate minimal changes to the statement."

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