Swiss private bank and wealth management group Julius Baer expects the U.S. Federal Reserve to deliver one last 25-basis-point rate increase in December before moving into an extended pause. The bank said the U.S. labor market is cooling and financial conditions have tightened materially. In its view, that tightening has been driven mainly by rising long-term Treasury yields and a stronger U.S. dollar rather than by higher short-term rates. Based on that assessment, December is now seen as the most likely window for the Fed’s final hike in the current cycle. The comment was cited by BlockBeats on Oct. 6.
According to BlockBeats on Oct. 6, Swiss private bank and wealth management group Julius Baer expects the U.S. Federal Reserve to deliver a final 25-basis-point rate hike in December, followed by an extended pause.
Julius Baer said the U.S. labor market is cooling and financial conditions have tightened significantly. The bank said that tightening has been driven mainly by higher long-term Treasury yields and a stronger U.S. dollar, rather than by rising short-term interest rates.
On that basis, December is now viewed as the most likely window for the Fed’s last rate increase.
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