With all of the focus on the Federal Open Market Committee (FOMC) policy statement yesterday, Bespoke has offered subscribers a full range of perspective on the meeting, including previews and recaps. From The Morning Lineup to The Closer and two stand-alone B.I.G. Tips, Bespoke clients have gotten a full breakdown of the FOMC decision. We’ve included breakdowns of the language used by the FOMC, implications for the markets, analysis of price action, and our expectations about the path forward.
Today we sent out our final piece of research, recapping our interpretation and the market’s reaction to the events yesterday. We also put the statement and our outlook in the context of other large, volatile moves in global markets over the past eight months. Included in the report was an update to our Countdown to Liftoff estimate of the market’s expected date of Fed hikes, based on the prices of Fed Funds futures. We’ve reproduced that below, showing that after the meeting yesterday, hike expectations have moved out by only one month, well within the range it has been in for some time now, pointing to a liftoff date sometime in the fall. If you’re already a client and would like access to the report, you can find it here. If you’re not yet a client, sign up for a free trial today to view!