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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 forward guidance and addition of 2021 dot in SEP today.
- Nomura: Expects a total of "four hikes from the FOMC in 2018 and two hikes in
2019 before the FOMC takes an extended pause through 2020," while "waning fiscal
stimulus, tighter monetary policy and increased supply constraints is likely to
slow growth over 2019 and into 2020." Nomura adds "notable risks include
aggressive trade policy by Trump administration and a sharp deterioration in
financial conditions."
- Barclays: Expect Fed to hike while "updated economic projections should
feature only minor changes, with the additional forecasts for 2021 signaling the
anticipated effects of restrictive policy." Barclays does "not expect the Fed to
alter its view that risks to the outlook remain 'roughly balanced.'"

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