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Unusually Dovish Waller Takes Edge Of Terminal Pricing

FED

Speaking on CNBC, Fed Governor Waller (voter) offers dovish comments considering his typically hawkish position on the FOMC and in doing so unwinds an earlier lift in FOMC-dated OIS terminal pricing, with Nov dipping almost 1bp to 5.43%. It’s back close to levels seen having digested Friday's payrolls report.

Bloomberg headlines:

  • *FED'S WALLER: DATA LAST WEEK ALLOWS FED TO PROCEED CAREFULLY, DOESN'T SAY WE NEED TO DO ANYTHING IMMINENT - bbg
  • *FED'S WALLER: DATA IS LOOKING `PRETTY GOOD' FOR NO RECESSION, WHETHER MORE RATE HIKES NEEDED DEPENDS ON DATA - bbg

However,

  • *FED'S WALLER: WANT TO BE CAREFUL ON SAYING INFLATION JOB DONE - bbg
  • *FED'S WALLER: DON'T THINK ONE MORE HIKE WOULD TRIGGER RECESSION, NOT OBVIOUS ONE MORE RATE HIKE WOULD DAMAGE JOB MKT - bbg
Energy BulletsCommoditiesFOMC Calendar Market News
Energy BulletsCommoditiesFOMC Calendar Market News

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