Daily Alert: Yields dip, equities surge as Fed forgoes a 100bp-er
- The FOMC has opted to deliver another 75bps hike in the Fed Funds rate overnight, forgoing speculation the Bank would deliver a full-percentage point lift
- It’s the forward guidance from Jerome Powell that’s been the most notable
- The upshot is that market pricing for the next couple of Fed meetings comes off a little bit, with about 97bps now priced by the end of the year
