USD Spikes As Powell Nomination Sparks Hawkish Rate-Hike Odds ShiftZeroHedge News

USD Spikes As Powell Nomination Sparks Hawkish Rate-Hike Odds Shift

The dollar index has spiked following President Biden’s decision to re-nominate Jay Powell to run The Fed, as opposed to the more-dovishly-perceived Lael Brainard.

The decision has also sparked a notably hawkish jump in STIRs, shifting the market’s expectations for a first rate-hike from July 2022 to June 2022…

These are the highest level for ‘hawkishness’ in this cycle…

And while stocks knee-jerk reaction was higher on “continuity”, they are fading as the hawkish shift in rates is perceived…

Get back to work Mr.Powell! The Dems need their scapegoat.

Tyler Durden
Mon, 11/22/2021 – 09:27Read More

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