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Wells Fargo Wavering On 100bp Already?

FED

Of those 100bp July sell-side calls, some clients have noted they may not take into account the post-CPI Fed speakers and today's data.

  • Of note, Wells Fargo said Thursday they had upped their view to 100bp, but have just put out a note on the Michigan survey as taking "some of the heat off the fire for the Fed to hike rates a full 100 bps at its next policy meeting on July 27 and suggests the Fed may again opt instead for a still-large 75 bp hike. St. Louis Fed President James Bullard and Federal Reserve Governor Christopher Waller in separate public appearances on Thursday both backed raising rates by 75 basis points this month, and we expect this fresh data supports that view."
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