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Daily Alert: Dot plots signal earlier and faster pace of FOMC hikes

  • US short-term yields and the USD rise after the FOMC ‘dot plot’ interest rate projections from 2022 were shaded up relative to those in June
  • Leading up to the FOMC, improved risk appetite was evident on hopes that difficulties of embattled Chinese property developer Evergrande can be resolved.
  • Local yields lower yesterday as the market continued to digest the RBNZ’s cautious message on rate hikes.

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