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BofA drops stunning warning about Fed rate hikes - Forex Factory
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BofA drops stunning warning about Fed rate hikes Forex Factory
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4 itemsBank of America Warns of Growing Caution Toward the U.S. Dollar - FXLeaders
Eamonn Sheridan
ICYMI: BofA keeps call for Fed hikes in October and December as spending runs hot
The desk echoes Bank of America's bullish stance on the Federal Reserve's tightening cycle, anticipating two additional rate hikes in October and December. Per the full note from BofA, these hikes are largely informed by robust nominal consumer spending, which rose by 6.3% year-on-year, significantly above the historical 5% threshold that correlates with heightened inflation risks. The outlook suggests a firm US dollar is likely amid a more aggressive interest rate path, impacting not only FX traders but also the broader equity markets focused on rate-sensitive assets.
BOFA GLOBAL RESEARCHBofA Global Research
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