U.S. Desk Strategy Market Views

July 2023 FOMC Preview: Bottom-line - Likely the last hike but they’ll stay data dependent in case inflation flares up…

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Bottom-line: Likely the last hike but they’ll stay data dependent in case inflation flares up…

  • Monetary Policy Updates: The Fed will hike by 25bps and Chair Powell will avoid sounding dovish
  • July FOMC Scenarios: We are leaning towards a neutral to a hawkish market read in our scenarios

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