LevFin Wrap – Powell holds the line

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Market Wrap

LevFin Wrap – Powell holds the line

Huw Simpson's avatar
Laura Thompson's avatar
  1. Huw Simpson
  2. +Laura Thompson
9 min read

High Yield Primary

Rate rises set the scene this week. The FOMC led the way, posting its third consecutive 75 bps hike, and unanimously bringing the Fed funds target range to 3-3.25%. With the dot plot guiding a similar move in November, and 50 bps in December, the median projection is now up to 4.4% by year end. Norway (50 bps), Sweden (100 bps), and Switzerland (75 bps) also announced increases, and on Thursday the BoE hiked 50 bps for the second time. While the UK bank rate is now 2.25%, a third of MPC members were keen for more, voting an outsized 75 bps.

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