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Trading Video: Fed Officials Add to Expectation that Hike Is Ahead

Trading Video: Fed Officials Add to Expectation that Hike Is Ahead

2015-09-22 02:05:00
John Kicklighter, Chief Strategist
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Talking Points:

• Last week's FOMC decision is a turning point in the policy-sentiment connection - not for policy but perception

• Adding to a belief that a hike will come in 2015, four Fed officials voiced a hawkish view

• Risk trends have leveled out, but an innate bearish bias is gaining more permanence in the markets

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The Dollar extended its run higher to start the week as a range of Fed officials amplified the surprisingly hawkish lean the market took after last week's FOMC decision. While the central bank held its benchmark rate at the zero bound, the market seems more enthralled with the eventual hike and its ramifications for capital markets. Over the past few days, San Francisco Fed President Williams, St. Louis' Bullard, Altanta's Lockhart and Richmond's Lacker all weighed in with a hawkish outlook - some more decisive than others. The US hawkish bias versus global counterparts is well-established, the untapped well is how a Fed shift impacts global sentiment. Meanwhile, major event risk is evaluated more thoroughly through a 'risk' and 'monetary policy' lens. We look at the shifting biases and key event risk in today's Trading Video.

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